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Carmike Cinemas (CKEC) Downgrade Alert, Watch for 6.8% Technical Uptrend Reversal - 11/3/2009 8:46:54 AM

By Chip Brian, SmarTrend Analytics Team
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Carmike Cinemas (NASDAQ:CKEC) downgraded to Neutral from Buy, $8.50-11 target, at Merriman. The stock closed yesterday at $9.57 on volume of 54,310 shares, above average daily volume of 0.

Carmike Cinemas is currently above its 200-day moving average of $6.69 and should find resistance at its 50-day moving average of $10.07.

SmarTrend is bullish on shares of CKEC and our subscribers received an Uptrend alert on July 17, 2009 at $8.96, which has returned 6.8% to date.

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