The following is technical analysis of BioElectronics Corporation (BIEL.PK) stock for November 30, 2009.BIEL Support and Resistance Levels - 11/30/09
Resistance Levels: $0.078, $0.103
Support Levels: $0.065, $0.0565
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BioElectronics Corporation (BIEL.PK) is trading below both the 10 & 50 day moving averages which is technically bearish. With that said, I will be avoiding the stock. If you are jumping in here however, BIEL has support between $0.056-$0.065. If the stock breaks down through that zone, it could get very ugly.
On the upside, the stock could get a nice pop if it closes back over the 50 day moving average located at $0.078. I would then be a buyer since this could be the start of a new break out. Pay attention to volume.....it would be bullish to see multiple up days with 75 million or more shares traded. For More Technical Analysis - Go Here
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