Spongetech SPNG Stock Technical Analysis - 8/28/09

The following is technical analysis on SpongeTech Delivery Systems, Inc. (SPNG.OB) for August 28, 2009

SpongeTech Delivery Systems, Inc. (SPNG.OB) Support and Resistance Levels - 8/28/09

Resistance Levels - $0.20, $0.285

Support Levels - $0.18, $0.16

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SPNG has been breaking out this week, closing back over the 10 day moving average and closing over the previous high of $0.18. SPNG is now back at $0.20 resistance and looks ready to rip through that level on Friday. Pullbacks to the 10 day moving average can now be bought for a trade. For More Technical Analysis - Go Here

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