Support, Resistance and a Golden Crossover

We finished the week with new highs on the major indexes, while the "official" nanotech index finished lower after testing the 200 point "ceiling".

This index is still on a short term uptrend but it still needs more buying power before it breaks the horizontal green line. If we get above that line in the next weeks we might be at the end of the Long term Bear on this index since April 2004.


We're very close to get a "Golden Crossover" that basically means the 50 day moving average crossing above the 200 day simple moving average. Since it's two of the most watched technical indicators it should attract some money into these stocks.

Nanovax is the heaviest stock in this index and should use the 3 Dollar mark as a support. It's a good company for a long term investment and try to avoid the speculative short term movements with their low volume.


Try to lookout for big players such 3M (MMM-NYSE), IBM (IBM-NYSE) and Intel(INTC-NASDAQ), with important R&D departments in nanotechnology, while investing in smaller caps that work mainly in the nanotech or biotech field.

I haven't found any interesting articles lately, but if you have found anything interesting, write it in the comments!