CTIC Stock Analysis May 11, 2009 5/11/09

The following is a Cell Therapeutics ( CTIC ) stock technical analysis for May 11, 2009

Cell Therapeutics, Inc Support & Resistance Levels - 5/11/09

Resistance Levels: $1.23, $1.40, $1.85, $2.50

Support Levels: $1.09, $1.00, $0.97

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CTIC stock held up very well on Friday. The range was $1.09-$1.23. A break back up through $1.23 would be very bullish and i'd look for $1.40 to be tested. If CTIC can break through $1.40 and trade above that price for awhile, the next resistance level is the high last week of $1.85. If $1.85 is taken out, I think CTIC could go back to $2.50. A lot of if's!! On the downside, a break down through $0.97 would send CTIC much lower and most likely back to the $0.70 level

$4.70 was the low back in March 2008 - When CTIC broke down through the $4.70 again, CTIC stock plunged. For More Technical Analysis - Go Here

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