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.