The following is technical analysis on Sunesis Pharmaceuticals Inc. (SNSS) for December 11, 2009Sunesis Pharmaceuticals Inc. Support & Resistance Levels - 12/11/09
Resistance Levels: $2, $2.10, $2.18, $2.43
Support Levels: $1.80, $1.60, $1.32
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Sunesis Pharmaceuticals Inc. (SNSS) was on fire Friday for the second straight trading day. Closing resistance is located at $2.10, so expect a big fight around that level. For a trade, I'd be a buyer near $1.60 as well as $1.31 using tight stops. A break above today's high of $2.43 would be very bullish and you could possibly see the stock run into the $3's. SNSS has huge volume so it must be respected if you are shorting it.
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