Another under-$10 name in the computer services complex that's trading very close to triggering a major breakout is KIT Digital (KITD). Through its operating subsidiaries, KIT Digital provides enterprise clients an end-to-end technology platform for managing IP-based video assets across the browser, mobile device and Internet protocol television IPTV set-top box-enabled television sets. This stock is off to a rough start in 2012, with shares off by around 54%.
If you take a look at the chart for KIT Digital, you'll see that this stock has been stuck in a nasty downtrend for the last four months, with shares dropping from a high of $12.65 to a recent low of $2.64 a share. During that sharp move lower, shares of KITD have consistently made lower highs and lower lows, which is bearish technical price action.
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