By Tim - http://stockstobuy.org
The following is technical analysis for Origin Agritech Limited (SEED) - September 22, 2010
Origin Agritech Limited (SEED) Support & Resistance Levels - 9/22/10
Resistance Levels: $9.30, $9.35, $10
Support Levels: $8.50, $7.49
Chart - http://www.stockcharts.com
Origin Agritech Limited (SEED) stock is on fire this morning after the company came out with positive deal news with BT Gene. Origin Agritech Limited stock ran up to $9.35 in early trading which now becomes short term resistance. The reason why Origin Agritech stock failed at this area was due to the 200 day moving average being at $9.30. If SEED can hold $9 today, we could see another retest of resistance tomorrow. Otherwise, Origin Agritech may fall back to the $8.50 area. Longer term, SEED is a buy below $7.50.
Origin Agritech Limited (SEED) stock is on fire this morning after the company came out with positive deal news with BT Gene. Origin Agritech Limited stock ran up to $9.35 in early trading which now becomes short term resistance. The reason why Origin Agritech stock failed at this area was due to the 200 day moving average being at $9.30. If SEED can hold $9 today, we could see another retest of resistance tomorrow. Otherwise, Origin Agritech may fall back to the $8.50 area. Longer term, SEED is a buy below $7.50.
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