Tuesday, September 20, 2005

Support and Moving Average Crossover

Yesterday the nanotech index left a candle that could mean a reversal pattern in the short term.
With the trendline support and candlestick pattern, if we get a new upswing in the next week, there is a good chance we will have the 50 day moving average crossing the 200 day moving average.

A Golden Cross like that one would probably attract some attention from investors and in the best scenario we would have the index above the 200 point level:

But still we are far away from the December 2004 Highs, and remember we are still in a Nanotech Bear Market, since Merrill Lynch started to quote it's nanotech index:


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7:52 AM  

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