CPALL : 33.50 by close…. otherwise 28.50-29.00 next week
February 11, 2011 Leave a comment
CPALL is seeing heavy sell-side volume, with the charts suggesting a dip to 30 or even a few spreads lower is in store for the very near term. If indeed it comes off to 28.50 next week, there could be a quick spike back to 30-31, and is probably worth to keep on the watch list for Monday.
A rebound scenario needs a close at 33.50 or better today, but there is huge price resistance from 34 to 35.50 or so, but it doesn’t look like it will be able to fight back just yet.