CityDev closed $5.13 on 24th Mar 09 from its recent intra-day low of $4.05 on 9th Mar 09. A rebound of about 27% from that low. Technical indicators are showing sign of a short-term pulling back. Stochastic signal is trying to cut down in the overbought region. DI pair though still positively spaced, DI+ is showing sign of cutting down towards DI- already. At present price level of $5.13, CityDev is trading at its upper Bollinger Band limit. Any upside would be met with resistance at the 100d EMA level of $5.92 and in short-term might be difficult to reach due to the several indicators start showing sign of pulling back. The pull back could potentially go down to fill the gap at $4.48. Therefore, at current price level, the risk of any long position is higher than the rewards.
