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Monday, October 15, 2012

ZLBT Random Stock Pick >>> AMEDIA (0159) 15 Oct 2012

AMEDIA (0159)
Chart Analysis
Technically, it is not looking good for AMEDIA as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line. The recent downward movement in price has brought us to the technically important level of 0.35. Failure to find support at this level may accentuate the bearish move. The RSI indicator is giving a reading in the oversold region. This may indicate the price decline may be over-extended. The price and volume action at the 0.350 >>>0.335 support levels is to be monitored carefully.
There are no fundamentals involved here. AMEDIA 0159 is based solely on technicals
Readers are reminded to consider the obvious before entering this stock.

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