On Friday, Biosensors continue to trend sideway and closed at $1.14 with LOW volume of 3.26 million shares traded.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
RSI & MACD are flat as MACD lines are converge together.
Important Resistance of Biosensors: $1.18
Immediate Support of Biosensors: $1.11
Currently prices are resisted by the 50/200 days MA and supported by 100 days MA at $1.11
From the chart, we could see that Biosensors is currently forming a ascending triangle and it is a bullish signal.
Assume that the rising trend does not break; we would expect prices to re-test $1.18 resistance in the coming weeks.
If prices pullback to $1.11 support again, do consider for entry if interested since it is expected to be a very strong support.
On Friday, NOL re-test support at $2.24 and closed at $2.24 with LOW volume of 3.07 million shares traded.
A black candle stick with little lower shadow affirms of traders profit taking on Thursday’s strong rally.
RSI & MACD are turning bullish as RSI began to trend upwards.
Important Resistance of NOL: $2.32
Immediate Support of NOL: $2.24
Currently prices are resisted by the 20 days MA and supported by 50 days MA.
NOL remains supported on the rising trend line forming a “higher low”.
The support at $2.18 is expected to be strong as it is near the rising trend line region.
For the past few months, NOL hardly perform any pullbacks as investors are bullish on this counter.
Thus if interested, the entry price at $2.18 sound reasonable.
Hello there
Just a query, on the NOL chart the 20d has crossed under 50d MA, would that not signal that the up trend is over?
Rgds