Satyam Computer (NYSE:SAY)
Q: Please tell me the satyam stock resistance in indian markets.A: Sanjeev, We only look at US exchanges and follow SAY that trades on the NYSE. First resistance from here is the $5 level where it last topped and then sold off. Beyond that we have the huge gap down back in January which will be tough to fill and require some work. That’s at the $9 level. But first, let’s see SAY try and work its way back above $5 and through the 200-day moving average just above. Then with some positive fundamental news and a complying market, SAY may recover that gap. There is some recent news about their accounting restatements that you may want to read up on. Te results may have an impact on the near term price move. We had it in a Downtrend before the gap down and we called it on 11/19. We then issued an Uptrend on 1/28 @ 2.08 and there have been no changes since.