BAY : Key support at 24, resistance at 24.80
February 14, 2011 Leave a comment
BAY spent but one day below its primary up trend line on the day chart, and has a hugely important band of support from 24 to 24.50. Closing Monday at 24.70, the stock faces key trend and price resistance at just 24.80, so it goes without saying too much, a failure to pass this level will result in a pullback to 24. A successful breakout above 24.80 places 25.40-25.50 as the target, but given a market wide correction occurs Tuesday there is a more chance of a pullback to 24.00-24.20.