January 9, 2011

CISCO Enters the GAP

DAILY CHART
DAILY CHART
WEEKLY CHART WITH FIBONACCI LEVELS (CLICK TO ENLARGE)
WEEKLY CHART WITH STOCHASTIC INDICATOR
  • Two daily charts and two weekly charts of Cisco systems.
  • First chart shows price entering the GAP in daily chart.
  • 2nd chart shows price closing above its 50 day moving average.
  • Weekly chart shows good support at 19 levels that is the 61.8% Fibonacci level in weekly chart. Price has gone up from there, broke above 50% level and closed above 50% fibonacci level. If price sustains above 50% Fib level then the next logical target would be the 38.2% Fibonacci level which is at 22.34. For this level to be achieved price should stay above its 50 day moving average.
  • Weekly stochastic is also looking positive.
  • FALLING WEDGE OF CRUDE OIL

By at

2 comments:

  1. A JJanuary 9, 2011 at 12:01 PM

    Hi San
    Any idea why such a huge gap was there in CISCO.
    Because of some new announcement like results?
    Thanks

    ReplyDelete
  2. SanJanuary 9, 2011 at 1:38 PM

    Hi Anuj

    CISCO gap down was because of company's weak outlook.

    ReplyDelete

Subscribe to: Post Comments (Atom)