CK : If major support at 7.15 fails, the technical retracement target will be 5.60
May 22, 2011 Leave a comment
The month chart of CK is already at its key trend and indeed 50 month EMA support. Significant. A bounce would be normal, and a breakdown not so strange, so watch it closely this week as a defining move could be posted very soon indeed.
A failure at 7.15 places 5.60 as the swing trade target to the downside, but if it can hold north of 7.20 this week, a bounce to 7.80-8.00 or so may well occur.