Thursday, October 06, 2005

Horizontal Supports on the Nano tech Index

The Markets started a more aggressive correction in these last days.
The Nanotech Index is still behind the selling pressure of a midterm downtrend and now facing an important support level in the 180 points.

This support was tested a couple months ago and it should give some strength to the Bull's side in hopes that will stop this downtrend.
The market was not kind to many nanotech stocks in this index, and we should keep away from many of them, but there are still some of these stocks that managed to maintain some gains in the last months.

I've found only 3 good bullish looking charts but be careful of the Nano Bear in any of these Small Caps: EMKR, MTSC, WEDX

Keep watching the main indexes and when they see new highs, the nanotech sector should keep up with the rest of the market.

Meanwhile, the Responsible Nanotechnology Blog keeps putting out some interesting articles, checkout: New Technical Information and Nanotech happiness?


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