The following is Technical Analysis for Energy Conversion Devices ( ENER ) issued on 10/19/08.
Support and Resistance Levels - Energy Conversion Devices ( ENER )
Energy Conversion Devices ( ENER ) is a broken stock right now until is starts closing over moving averages such as the 10, 50, and 200 Day. Ener has support at around $34 and $29.00. Resistance is at $46.40, $49 and $50.
Remember when ENER first popped on its first quarter of reporting earnings in history back in May? ENER opened up around $42....his $41...and then took off to hit a high of $48. Also bouncing off $46.40 several times before breaking $50. A close over $50 again would be a very bullish indicator and in my opinion ENER would be back in play.