February 8, 2012

CNX IT Negative price action

  • CNX - IT is showing negative price action at the top of the range. One good thing for bulls is that its happening closer to and above 200 SMA. So any correction may be limited to this important level.
  • 2nd chart shows an overbought RSI turning down. Price closing below 10 Day EMA will extend this correction towards 200 SMA. 

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