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Tuesday, May 3, 2011

CGNX

CGNX gapped from the middle pivot point of it's range right to the top, then went out to a new high. With that hge move, the price relative is even with where it peaked in early February,from then until now this has gained wxactly what the overall market has, but with a lot more volatility. The base, if you can call it that, is about as poorly formed as you can get, and CMF went very negative during it, but since bottoming out made a pretty decent move up, While I'm not thrilled with the chart at this point, this does have good numbers and reported good earnings today, so it does bear watching.

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