CK : Long term resistance at 10.80
April 10, 2011 Leave a comment
CK has VST resistance at 9.10, and support at 8.60, 8.30 and 8.10. The counter also has last week’s low at 8.75 to cusion any near term downside, but from the chart it appears it may have to at least retest 8.60-8.70 or so once again.
For now it would be preferable to buy on slight weakness nearer 8.60, but a volume supported breakout at 9.10-9.15 could also warrant a follow buy trade if such activity occurs – with the first target being 10 or so, then on its long term resistance at 10.80.
A breakout above the LT resistance places 16.50 as the next medium term target.