CIG : Decent chance to hit 1.30 or so before running in to stiff resistance
July 25, 2011 Leave a comment
CIG had 3 big volume days at the end of June, and one on Monday (25th) Another decent spike to 1.3 or so looks likely, but from 1.30 to 1.34 it will likely hit a wave of heavy selling.
On a longer term basis there is a wall at 1.45, which if and when is taken out should see the stock rally to 2 or so. As such it might be worth to take note of such levels, and maybe set an alert for the LT move, and for a quick punt this week. Use 1.20-1.21 as first support, then 1.16