Bolsas Y Mercados Espanoles ST: the RSI is oversold
01/06/2012 14:37
Alternative scenario: the upside breakout of 14.8 would call for 15.7 and 16.2.
Our pivot point stands at 14.8.
Our preference:the downside prevails as long as 14.8 is resistance.
Alternative scenario:above 14.8, look for 15.7 and 16.2.
Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 15.63 and 17.05). Bolsas Y Mercados Espanoles is currently trading near its 52 week low at 13.87 reached on 01/06/12.
Supports and resistances: 15.7 * 14.8 ** 14.5 14.065 last 12.9 12.4 ** 11.9 *
