CENSOF - Limited downside

CENSOF's price slid all the way down after peaked at 0.555 on the Bonus Issue (1 warrent: 8 Ordinary Shares) expiry date at 16/7/12. Today, it printed a small white candle but failed to break through the downtrend resistance line. Based on charts, price has been oversold for quite some time and MACD almost finished its bottom-rounding process. It should be ripe for a reversal. If price can break 0.365 (yesterday's high) tomorrow it will move higher to test its overhead resistances at 0.385 and 0.41. Further movement will depends on market situation.

As Censof has been recommended by analyst as a 0-debt and good potential company, downside should be limited after a deep correction. Its strong support lies at 0.35.