Tuesday, July 5, 2011

Break through 50dma

After running up to the 50dma around 11am, CNIT slows and then comes back to break right through $2.28 at 12:20. Now it has stalled at a key resistance area, which is right around a trading range it stayed in from early April to late May, before it saw that dramatic fall on May 27. Expect it to stay around this range for a little while, though if it picks up more steam it could go up to just under $3.

More later.

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