At these TESTING TIMES, there are a lot of weaken holders. Most nervous of all are the CFD traders who are OVER-leveraged. CFD is a Deadly & POTENT BOOSTER. CFD Traders are either Troubled :woohoo: or Thrilled
Healthway Medical closed at 14c today and it remains to be seen if this support would hold or would 13c, the next support, be tested. The declining volume continues to confirm a lack of selling conviction and as the price declines, the chances of supports holding become higher in this light. With the MACD declining and positioned just above zero, there is almost no doubt that the upward momentum is over. MFI confirms this as it did not rebound off the trendline support today, confirming a lack of buying momentum.
Healthway Medical relinquished its 14c support level today and with it the hope that it might consolidate at 14c. Closing at 13.5c, it seems that people waiting to collect more shares of this counter at 13c might just get their wish. Volume continues to be very thin but in the absence of any buying momentum, as is evident in the declining MFI, the chances are greater for its price to continue drifting downwards.