CK : In need of a rebound above 8.55
February 15, 2011 Leave a comment
Anyone following CK’s price chart will have felt a tad disconcerted after the recent failure to hold above 8.55. It needs to do so if it is to avoid a series of new lows below 7.80. Use 8.30 as the breakdown point Wednesday, with a breach here pointing to 8.05.
A weekly close below 8, or better still 7.80 should see the counter back at 7.50, with major support seen here down to 7.10 or so
A snap bounce would however need strong volume to give it validity … 20m shares or more for a couple of days.