The following is technical analysis of BioElectronics Corporation (BIEL.PK) stock for August 17, 2009.BIEL Support and Resistance Levels - 8/17/09
Resistance Levels: $0.083, $0.095
Support Levels: $0.077, $0.075, $0.055
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Biel.pk has been one of the hottest penny stocks lately. Biel continues the powerful stairstep pattern with resistance located at $0.083 and $0.095. If BIEL is able to start a new break out and close over $0.095, you could easily see another 20-50% gain. On the downside, I would avoid the stock if it closes two straight days below the 10 day moving average. However, if you are trading BIEL, a dip back to the 50 day moving average would probably be a great buying opportunity. For More Technical Analysis - Go Here
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