CTXS is still very bullish. Monday's high of $45.50 marks resistance dating back to 2000. Today's low of $43.20 matches the April high and may hold as support. If not, we have support at $42.00 and the accelerated trendline. I wouldn't hold on to it if it breached the accelerated trendline on a closing basis. On a longer term view, if it takes out Monday's high, the next level of resistance is $50.00. I'll keep covering this one on a regular basis because its one of just a handful of charts, that I really like.
4 comments:
Ah the wonders of technical analysis. Today's low matches the April high so beautifully. Failed to see that myself. Thanks for the analysis.
AJ.
You're welcome!
Hi Jamie,
Was holding a couple of June 40 options, but sold it after the stock crossed 42. Couldn't stand the activity the past couple of days. Wanted to leave with a small profit than deal with a loss. It could bounce up, but didn't want to stick around to find out.
Thanks for the chart though.
Hi AJ,
I'm with you, its better to take a small profit than to let a winner turn into a loser.
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