Tuesday, August 02, 2005

COGT On Fire

COGT has finally broken through its $30 resistance. i really like this stock because i got a easy ride from $24 to $30 a few weeks ago. it was the easiest play i ever made. i just bought it, and it kept going up and up until it hit the extremely strong $30 resistance (look at the yearly graphs to see what i mean). anyway, its busted through the resistance recently on decent volume, so you might want to check it out. at the moment, it looks like its supported by the 13dayEMA, but i cant really tell what a safe entry point is. a $32 entry might be a little risky, so if it retraces in the next few days on low volume, a ~$30 entry with a stop slightly below the 13EMA would be a much safer play. i'm going to stay out of this one because my cash is tied up in ELN and MPET at the moment, but i hope you guys found this chart useful.


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