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ASTI: Testing support at 11c.

Tuesday, October 5, 2010

ASTI's share price tried unsuccessfully in earlier sessions to stay above the 12c resistance. Today, share price closed at 11c amid weakening technicals.  The MACD just completed a bearish crossover in positive territory.  RSI is testing support at 50% which suggests weakened buying momentum.


11c is where we find the rising 50dMA.  A stronger support would be at 10.5c which is where we find the rising 100dMA which coincides with the uptrend support line. I believe that the fortunes of the semi-con industry would continue to improve and would, therefore, accumulate if ASTI's share price should retest support at 10.5c.

Related posts:
ASTI: A doubling of share price in time.
ASTI: Breakout, almost.

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