Biosensors: Not spared the sell down as mentioned..... price 0.65

Call issued last Friday when the 0.700 psychological level did not hold..... then down it went..... where to now ?

Sent: Friday, 31 July, 2015 3:36 PM
Subject: ******** Biosensors: Breaking below 0.70 support level. More downside towards 0.64 next. price 0.69

Biosensors has broken below the 0.74 support level over the past few days and today we have seen it cleared below the 0.70 psychological support level too. Note that 20 day MA line has crossed below the 100 day MA line which can mean that the trend is turning. At CURRENT levels, it has also crossed below the 200 day MA line where we can expect long term trend to start reversing too. Target to 0.64 then 0.60 as long as 0.700 is a new resistance now. CFD SELL can be used to ride any downside with buy stop loss at 0.715. All 3 indicators pointing downwards with MACD also look weak. Cautious long.