COGT On Fire

By Johns Wu on Aug 02, 2005

COGT has finally broken through its $30 resistance. i really like this stock because i got a easy ride from $24 to $30 a few weeks ago. it was the easiest play i ever made. i just bought it, and it kept going up and up until it hit the extremely strong $30 resistance (look at the yearly graphs to see what i mean).

anyway, its busted through the resistance recently on decent volume, so you might want to check it out. at the moment, it looks like its supported by the 13dayEMA, but i cant really tell what a safe entry point is. a $32 entry might be a little risky, so if it retraces in the next few days on low volume, a ~$30 entry with a stop slightly below the 13EMA would be a much safer play.

i’m going to stay out of this one because my cash is tied up in MPET at the moment, but i hope you guys found this chart useful.

This entry was posted on Tuesday, August 2nd, 2005 at 10:40 am and is filed under Annotated Analysis. You can leave a response, or trackback from your own site.