- Daily time frame shows cisco getting resisted exactly at the 200 DMA.
- An effort to close the previous gap was on but 50% Fib level and 200 dma could not be crossed.
- Weekly chart shows a bearish flag kind of breakdown. So if the lows are broken on closing basis we may see much more downside for cisco in the coming weeks.
- Weekly close below 19 will strengthen the bears more. We may see 17 levels if 19 is not protected by bulls on closing basis.
- RUSSELL 2000 RESISTANCE LEVEL
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
February 10, 2011
CISCO Chart analysis
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment