Technical Analysis of Financial Markets

Friday, February 15, 2008

Cablevision Systems Corp. (CVC)

Founded in 1985, Cablevision Systems operates as a media, entertainment and telecommunications company in the United States. Having declined approx 90% over the last 7 month period, price action has now rallied towards the 38.2% Fibonacci extension level projected from the 7 month downtrend low. This level, at approx $28, has previously served as both support and resistance. With RSI and stochastics signalling overbought conditions, an entry into a short position with a stop-loss on close above $28 may serve as low-risk trade.

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