Failure To Recover Above $1.4004 A......>

CABLE TECHS: Failure To Recover Above $1.4004 A Near Term Concern

*RES 4: $1.4161 Initial low Apr 19, now resistance

*RES 3: $1.4088/08 Apr 20 high, broken 9 week bull channel

*RES 2: $1.4031 Apr 23 high

*RES 1: $1.3997/04 Apr 24 high, hourly resistance

*PRICE: $1.3940 @0820GMT

*SUP 1: $1.3918 Apr 24 low

*SUP 2: $1.3890 Mar 16 low

*SUP 3: $1.3869 76.4% $1.3712-$1.4377, swing $1.3918-$1.3997

*SUP 4: $1.3846 2% volatility band

*COMMENTARY* Failure to move back above $1.4004 overnight, once again leaves the

downside vulnerable. A loss of Tuesday's $1.3918 base then having the potential

to enter the next region of support, from between the Mar 16 low at $1.3890 and

the 76.4% Fibo retrace level at $1.3869. Any lower and will be looking to the 2%

volatility band at $1.3846 to protect the Mar 8 low at $1.3782. Need back above

$1.3997-$1.4004 to spark any recovery hopes.