CEI : Possible extension to 4 or so
March 16, 2011 Leave a comment
For those holding CEI, a quick look at the monthly chart is worthwhile because it shows us there is game changing resistance pretty much where it is now – 3.40. On a sing trade basis, a successful weekly close above the recent high or 3.56 puts 4 or so in sight. We think there is a good chance of a move to 4 or so, with first support at 3.30 or so, and again at 3.22 – which if seen again might be a price to consider a punt, with a 4-5 spread stop.