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BELM experienced a large gap down on Oct 12, but has since erased most of these losses. As you can see from the chart below, the 200 DMA has historically been an area of strong support, but now that it is below this level we expect to see it become a level of resistance. The $9.00 level at the top of the gap will be the next area of resistance in the event that the bulls manage to push the price beyond the 200 DMA. We'd expect to see BELM head higher if the bulls are able to push the price beyond these two critical resistance levels. Otherwise, watch for the bears to push it back towards its October lows.

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