May 16, 2011

CNX IT Chart analysis

  • From the last chart price seems to be holding on to the support line. If MACD gives a buy signal we may see a small rally.
  • But the medium term looks weak for CNX - IT. 
  • 20 and 200 Day Moving Average Bearish cross over can be seen in daily chart. The bullish crossover was happened when the index was trading near 2760 levels.
  • First chart is again a short term view. Price is consolidating between support and resistance lines. so a break from this pattern can give the next direction for CNX - IT.

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