On Monday, Biosensors trend upwards and closed at $1.47 with HIGH volume of 8.96 million shares traded.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
RSI & MACD are bearish as RSI trend downwards.
Important Resistance of Biosensors: $1.565
Immediate Support of Biosensors: $1.435
Currently prices are well above 100 days MA at $1.42.
For the past 8 sessions, prices have been falling under heavy selling pressure.
The support at $1.435 is expected to be strong as prices rebound from this level.
Investors who are interested in Biosensors, do watch for any consolidation at the $1.435 for a good entry prices.
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