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Saturday, August 15, 2009

CTIC Stock Analysis August 17 2009 8/17/09

CTIC Technical Analysis - The following is Cell Therapeutics ( CTIC ) stock technical analysis for August 17, 2009

Cell Therapeutics, Inc ( CTIC ) Support & Resistance Levels - 8/17/09

Resistance Levels: $1.63, $1.68, $1.73, $1.78, $1.85

Support Levels: $1.50, $1.40


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Cell Therapeutics, Inc. (CTIC) has been making some false breakouts recently but we are starting to see a new uptrend forming. CTIC continues to close back over the 10 and 50 day moving which is bullish. I am watching a key resistance level of $1.73 which was the July 2009 high. If CTIC can close above $1.73, I think it could really rip higher. I will probably jump into CTIC again when the stock breaks up through last weeks high of $1.68 for a trade. Investors and traders are anticipating the FDA to accept the Pixitrone application on Aug 24th which would be very positive for the stock.

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