On Friday (27.02.2009) OSEBX closed at 214.64 down 2.1% from last trading day. Intra day high and low was 219.27 and 211.37. Looking at the chart we see that the support level at 211.49 held even though it was tested intra day. Support levels to look for the coming days are 214, 211,49 and 201.72. On the upside the resistance levels are 217.54, ~222, 227/228, 234 and 243.14 (if you are very optimistic). We see some positive signals from +DI and -DI. +DI is increasing while -DI is decreasing. ADX is also showing a continuing strengthening in value. The RSI value is not giving much additional information but if we make a trend channel we see that there is room for a fall for OSEBX to 211.49 at least and if the support trend line seen for RSI fails 201.72 could easily be tested again. Pivot points for tomorrow are PP = 215.09, S1 = 210.92, S2 = 207.19, R1 = 218.81, R2 = 222.99. An opening higher than PP tomorrow can be regarded as positive.
If you want to calculate pivot points for stocks that you follow or for OSEBX you can do that with the Dukascopy pivot point calculator found here:
http://www.stocktradersbulletin.com/documents/financialcalendar.html (lower part of page).
Happy trading.
SB
