Sunday, September 29, 2013

Biosyent Positings

Biosyent is a bio-science company trading on the venture exchange under the symbol RX.V

Don't know much about the company other than what a quick look at their website and financials can give. Didn't research management history, but...they seem to be making money.

Funny enough, this company was brought to my attention by a post by PS Dave over at vancouver venture (read the post here) where he writes the company off as a typical V pump job.

I looked at the chart and, regardless of what they are actually doing, doesn't mean you can't make a few bucks regardless.

Now, there are a couple things I take note of. First, stock is still far above its 50DMA and the 10 day looks to be re-crossing below the price.

Second, the volume has been highest at the same price point, roughly 2.25, which the price has recently bounced off.

RSI (I've chosen a length of 10) is well below 30 on a strong down turn indicating that the stock is oversold.

I'll be watching Monday and possibly Tuesday for some further confirmation.

1 comment:

  1. thanks for the technical picture. i wrote a quick fundamental analysis at Vancouver Venture blog fyi. Take care and great blog!