BOC approaches 90-day MA

BOC went through support lines without a stop and is now approaching major support at 3.76, a previous low and the level at which the 90-day moving average is sitting, chart analysis by Financial Mirror shows.

The last time BOC approached its 90-day was in November 2005 when on 25 & 30, the 90-day was tested twice (at 2.24) and held and from where the rally started.

If the 3.76 holds, then load up on BOC shares for a minimum 50% of retracement of the big move from the top (4.78-3.80) at 4.29, or at least 4.20. Stops below 3.70 break to protect from another slide to 3.42, which corresponds to EUR 6, the previous low hit on Sophocleous.

RSI: 30.85 5-day: 4.15 10-day: 4.40 30 day: 4.29

Supports: 3.76, 3.65, 3.42 Resistance: 3.93, 4.20, 4.35

S/Term: Negative M/Term: Negative L/Term: Positive

CPB broke through the 30 and 90-day moving averages and seems to be heading towards 2.39, below which its open for a test of the previous lows at 2.10-2.15.

RSI: 33.17 5-day: 2.69 10-day: 2.81 30 day: 2.74

Supports: 2.39, 2.18, 2.13 Resistance: 2.56, 2.67, 2.78

S/Term: Negative M/Term: Negative L/Term: Neutral

HB needs to stay above strong support line at 1.06 to maintain the up bias, otherwise a break below 1.01 is likely to force the title to its previous lows of 0.86 to 0.89.

RSI: 42.92 5-day: 1.22 10-day: 1.29 30 day: 1.16

Supports: 1.06, 1.03, 0.89 Resistance: 1.12, 1.27, 1.36

S/Term: Negative M/Term: Negative L/Term: Positive