Cascade Bancorp’s stock price (CACB) has now broken the downtrend line in place for the past six months and is once again testing the 8.5-8.75 level that has been a key support/resistance line in the sand since the spring.
Just as the 80% decline in the stock has been a decent predictor of the fundamental deterioration at the company, I think where the stock goes from here will say much about what we can expect from the company in coming quarters – and by extension, the local economy.
[youtube http://www.youtube.com/watch?v=Yd60nI4sa9A&hl=en&fs=1](Click for video)