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Corrections Corporation of America Message Board

  • GenJackripper GenJackripper Feb 1, 2005 6:32 PM Flag

    A 16� gap-up.

    While the past couple of better behaving days for the market haven't necessarily signalled a change in the market's tenor, it has created some gap-ups for some stocks, one of which is CXW.

    CXW has a bit of unfinished business in the gap-up it's left between last Friday's (1/28/05's) i-d h of 40.19 and yesterday's (1/31/05's) i-d l of 40.35. Given that CXW's recent c-w-h's breakout pivot point was @ 40.10, closing that gap should bring it within close proximity to that price level.

    CXW's recent regression below said pivot point into former c-w-h price-consolidation territory (as low as 39.35 last Friday) was making the General feel a mite concerned.
    Its likely eventual return to do its "tidying up," by closing said gap, should present a buying opportunity for those who're interested (in the General's opinion).

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17.51-0.63(-3.47%)Aug 26 4:02 PMEDT