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"E-book" by AK

Second "e-book".

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Healthway Medical: Still at resistance.

Tuesday, December 14, 2010

Closing at 17c today, forming a doji on reduced volume suggests that the upward movement in price is losing momentum. This is confirmed by the falling MFI and RSI.  The fall in OBV suggests too that distribution is underway. 17c resistance is, therefore, intact.


Price could first retreat to 16c, a many times tested resistance and now possible support, before closing the gap at 15.5c. In case the bearish reversal signals are nullified in the next session, the upside target is still 18.5c.

Related post:
Healthway Medical: Good news.

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