On Wednesday, Biosensor broke its support at $1.08 and closed at $1.15 with HIGH volume of 55.17 million shares traded.
A LONG white candle stick with little upper shadow affirms that the break out is successful and investors are willing to buy up the stocks.
Both RSI & MACD are bullish though RSI at overbought region.
Important Resistance of Biosensor: $1.15
Immediate Support of Biosensor: $1.08
Currently prices are well above 20/50/100/200 days MA.
Biosensor may be one of the shining stars today that breakout despite STI market under selling pressure.
In fact, Biosensor is now at 5 years high which a very bullish signal for the stock.
We would not advise anyone to buy the stock but do look out if Biosensor can perform another breakout tomorrow if vested.
Otherwise we would suggest investors to consider taking profit due to uncertainty ahead.
On Wednesday, Midas re-tests its support at $0.935 and closed at $0.935 with LOW volume of 6.65 million shares traded.
A black candle stick with no lower shadow indicates that investors have no hesitant in selling down this counter.
Both RSI & MACD are bearish as RSI trend downwards strongly.
Important Resistance of Midas: $0.97
Immediate Support of Midas: $0.935
Currently prices are resisted by 50/100 days MA.
Today selling pressure is relatively low despite having a long dark candle sticks thus we would not think too much of it.
Although we would expect the support at $0.935 to be very strong but do watch out.
Strong selling pressure likely to be triggered if the support at $0.935 were to be breached.
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