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Monday, December 11, 2006

CAAS - NASDAQ

CAAS after 4 months consolidation (bold) has broken resistance to set up a Pennant formation (blue) considered a bullish chart pattern. CAAS has broken out of the pennant and pulled back giving us a good entry point on break of $11.34 for a mirror move of this breakout pattern which targets the $14.40 - $15.00 range.