For you risk takers..

Posted by downtowntrader | 9/20/2005 11:10:00 PM | 1 comments »

CPST may be setting up for a bounce. It bounced off double support today (trendline, 50% retrace), and filled the previous gap. It ended in a doji which could signal a reversal as well. The key is how it follows through tommorrow. I know about the bad news, and I'm not sure fundamentally where they stand, as I'm only looking at the technicals here for a short term move. If CPST makes a higher high (>4.45) tommorrow, then I believe it can be traded for a quick gain. If it makes a lower low then the 61.8% retrace may be the next stop.


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