Stock in Focus: Belle Corporation (BEL)

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Property firm Belle Corporation (stock symbol: BEL) has been thriving well below the 5.00 psychological level for about 3 weeks now, and there is still no sign of life or strong activity in this stock.

Buyers are on the back foot and would want a break of the downsloping trendline rather than the horizontal support around 4.80.

The Stochastic indicator is on a bearish formation near the 50s, and it will move further down if price eases.

5.00 is the line in the sand. Buyers must watch out.

BEL Daily chart, January 15, 2014

BEL Daily chart, January 15, 2014

 

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