The following is technical analysis on Cyclacel Pharmaceuticals, Inc. (CYCC) for December 11, 2009.Cyclacel Pharmaceuticals, Inc. Support & Resistance Levels - 12/11/09
Resistance Levels: $1.66, $2.00
Support Levels: $1.40, $1.20, $1.10, $1.00
Chart - www.stockcharts.com
Cyclacel Pharmaceuticals, Inc. (CYCC) was on fire like SNSS Friday. CYCC stopped right at the June high of $1.66. If CYCC breaks up through $1.66, I will be a buyer for a trade. I would then put my stop loss order at around $1.59.
Long term support is located at the 200 day moving average all the way down at $0.82. If you like this company, look to reload on a retest of the 200 day moving average. For a trade, look to buy at the 10 day moving average which should be above $1.00 next week.
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