Thursday, December 28, 2006

PACT..At Resistance




PACT had a nice up day today on news that PacificNet Games Limited subsidiary has been selected by Jai Alai Casino in Macau to provide multi-player electronic gambling machines. The stock closed up 16% on heavy volume.

Right now the stock is at a big spot. Notice the 200 day moving average which is sloping downward comes in around 6.25. There is also significant reisistance here at 6.25. I think this is a key level to watch for. If the stock can post several closes above 6.50, the trend in my opinion will turn up, but until then the trend is down.

Posted by Kevin

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