CBS Corp Finds Resistance

'' CBS Corp

shares are trading higher by $0.16 at $61.82. Once again, the issue has been the subject of takeover chatter, but nothing has yet to materialize. In fact, today's sudden pop in the issue around 11:00 AM was not even able to shake the issue out of its well-defined trading range since April 6. On that day, it bottomed it bottomed at $60.42 and rallied to $61.72 before ending the session that day at $60.89. Since that day, it has traded in a $60.61 to $62.09 trading range, with the high being put in place in today's session. That high reinforces for the significance of the $62 level. The reason for that being it has peaked at this area on two other times in its three previous sessions. On Monday it peaked at $61,92 and at $62.00 in Wednesday's session. CBS has not closed above $62 since March 24, when it ended the session at $62,38.