Wednesday, June 10, 2015

QT Vascular: More downside still?

Have crossed our 0.180 target over the past week, can the 0.160 support hold too?

Sent: Tuesday, May 26, 2015 9:16 AM
Subject: *********QT Vascular: Broken key 0.200 support, cautious long position. price 0.193
QT Vascular has broken and closed below the critical 0.200 psychological support level yesterday and today dip lower on higher volume. Staying below 0.200 now can open the way to more weakness to 0.180 then 0.160. A new low seen at the moment which can lead to more sellers taking it lower. As long as 0.200 is a resistance now, we are bearish in the short term with 20 day ma LINE also sloping downwards consistently since April. Overall long term trend is still negative with both 100 and 200 day MA lines pointing lower still. Stochastic and RSI also reversing down on today’s price action. CFD SELL to ride any downside below 0.200, a further clearing of 0.190 support can see it head lower further to find a new consolidation phase. Range is now from 0.190 to 0.196.

No comments:

Post a Comment