Friday, May 19, 2006

Reaching Supports

The two most important Nanotechnology indexes have finally hit my target supports and Bulls should poise for a comeback.

Merrill Lynch Nanotech Index finally reached the 200 day moving average and in the next days we could at least stop reaching new lows.

Powershares Lux Nano ETF found a common Support/Resistance from the last months.
The horizontal black line indicates the technical support, which can stop the Bears from getting ahead, I think at least for some time...

Next week I'll try to post some individual nanotech related stocks that offer some good chances of reversal.


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