Pursuant to the write-up on Broadway on 2 Nov 10, Broadway has slid to $0.985 in line with the weak market. I have mentioned that $1.01 and $0.935 are major support regions. This write-up is purely on an opportunistic play (long position) on Broadway with a horizon of 1-3 months, given the oversold position elaborated below. Extremely oversold With reference to Chart 1, it is apparent that RSI has declined to levels not seen since Jan 2009. In fact, throughout Broadway’s listed history since 1994 (excluding the dire period from Dec 08 – Jan 09), there has been approximately 20 […]