Monday, June 17, 2013

**** Short Term trade: ISDN. Share price 1.31. (Short term Speculative play with tight stop loss)

ISDN has staged a strong rebound from a huge sell down on penny stocks last Monday. Currently has rebounded to above the 1.30 immediate resistance level which it has stayed below for about a week. Since the sell down last Monday, it has been closing higher on strength each day as buyer accumulate on dips. Support would remain at 1.30 level now, with the next resistance at 1.33 then 1.40. As long as 1.30 holds as new support, more short term upside possible to retrace previous high at 1.385. Top 10 volume seen currently. A break above 1.40 can see it test 1.50 critical resistance quickly.
Stop loss at 1.28

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