Spongetech SPNGE Stock Technical Analysis - 9/28/09

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

SpongeTech Delivery Systems, Inc. (SPNGE.OB) Support and Resistance Levels - 9/28/09

Resistance Levels - $0.11, $0.14

Support Levels - $0.07

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SPNGE dropped significantly when the company announced plans to reverse split their stock. The company then dropped the ball on their 10Q which added the E on the end of SPNG. SPNGE is now testing the 200 day moving average which I expect to hold ( 0.07). I will buy SPNGE for a trade when it closes back above the 10 day moving average. For More Technical Analysis - Go Here

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