March 6, 2011

CISCO Technical analysis

  • CSCO Weekly chart shows a possible support line from which a bounce can be expected.
  • But a reversal candle is yet to be seen so some more pain can be expected for the bulls.
  • If stock continue to break weekly lows we may see the stock dip to the support line in the coming weeks which can take it to $17.50 levels.
  • Daily chart shows price trending down below all major moving averages(200 , 50 and 20)
  • Price has to close above 20 day moving average for a reversal to be seen.
  • SPY Weekend update SPY WEEKEND UPDATE

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