BECL : Key support at 18.60-18.70 this week.
February 28, 2011 Leave a comment
As can be seen on the chart below, BECL has a convergence of support and resistance not far from the current price of 18.90.
For the very near term key support is 18.60-18.70, and if it fails there could be a pullback to nearer 18.20 quite quickly, and some possibly of a multi week slide to 17.30-17.50.
A rebound and weekly close above 19.60 is needed to turn the counter bullish and cancel the risk of a pull back to sub 18 rates.