CFRESH : Strongest volume in 13 months, but needs to hold above 5.15 to change the trend
August 4, 2011 Leave a comment
In a medium term basis, a breakout and solid move above 5.15 will place 6.40 to 6.50 as the target, albeit with intial resistance at 5.4-5.5 and again nearer 6
On a VST basis use 4.64 and 4.60 as supports for Friday, and if they hold there is a good chance of a rebound to 4.88-4.90, possibly 5 to 5.15 again.
A close at 5 or better over the next few sessions – and preferably no later than Monday, will add weight to a breakout scenario >5.15, with 5.4-.5.5 then in sight.
A breakdown below 4.6 places 4.48-4.50 as last ditch support for the move in play now.