CYGX.................................................
Another monster breakout OTC Bulletin Board stock. I know the swingers have been on this one for awhile. Up 25%+ plus today. Incredible. Just like Jan/Feb 2000.
TECHNICAL OPINION - (CYGX) - 09/17/2003
Daily Opinion: BUY
Wednesday's very Bullish (up) move, forming a yearly high, is accompanied by increasing volume (178% of average), suggesting a continuation to further new highs. This is generally a very bullish sign.
Short-Term Opinion: HOLD
On a short-term technical basis, the trend is Bullish (up) and the stock is above its 50-day moving average at 0.56 which also confirms its Bullish (up) trend. The stock is extremely overbought according to the Stochastic indicator (84.75).
Long Term Opinion: OUTPERFORM
On a long-term technical basis, the stock (CYGX) is trading above its 200-day moving average which implies it is in a positive trend.
The stock has support at 0.84 and 0.72. If the stock breaks down through support at 0.84 then it will probably continue lower to 0.72. The stock will meet resistance at 1.19 and 1.26. If the stock breaks up through resistance at 1.19 then it will probably continue higher to 1.26. The 200-day moving average is at 0.21. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (88.06).
Regards,
Naz
AI
