Our preference: the downside prevails as long as 0.229 is resistance.
Alternative scenario: the upside breakout of 0.229 would call for 0.254 and 0.269.
Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 0.24 and 0.27). Bank of Cyprus Public is currently trading near its 52 week low at 0.2 reached on 26/07/12.
Supports and resistances:
0.254 *
0.229 **
0.219
0.206 last
0.174
0.159 **
0.145 *
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