February 4, 2012

CISCO Bullish Engulfing

  • Daily chart shows price trending up above 50 Day SMA.
  • Weekly chart shows a bullish engulfing pattern which should help bulls to continue this up move.
  • Next resistance will be the 50% Fib level. Closing above 50% Level should take price to 22 Levels.
  • Month chart too is looking good for bulls with a closing above 20 Month SMA. Month chart Price action should take stock to 22 Levels which is golden ratio as shown in 2nd chart. 

No comments:

Post a Comment