Peter, I'm vacationing and have little access to computer time. So, I can only take a quick peek at the charts and comment.
Sivle says yesterday's action is nothing more than short covering at this time. You want to keep an eye on that long down candle from Thursday's trading. CYTC isn't a buy until you can claim more than half of that loss and do it on strong volume. Crossing up and over the 10 dma would be a plus, in my opinion. Don't be surprised if the 10 dma serves as resistance. Breaking that resistance is critical to the near term success of CYTC.
stockcharts.com[h,a]dacaniay[pb50!c10][vc60][iLh14,3!La5,18,9]&pref=G
In looking at the weekly chart which shows the longer term, you'll notice that all of the high volume weeks recently, have been on down weeks. This indicates weakness.
stockcharts.com[h,a]wacaniay[pb50!c10][vc60][iLh14,3!La5,18,9]&pref=G
The stock may take off from here, but Sivle says it's still too early to tell. Don't be afraid to take profits if CYTC doesn't open up higher on Monday and stay up.
Good luck,
dabum |
