rss
email
twitter
facebook

Wednesday, November 14, 2007

CSCO

If prices close above 30.4-30.5 i see it possible for further momentum upwards. Overall though the RSI is starting to trend sideways, indicating possible exhaustion from the bulls, although some people are just taking a break from the past two days of gains, if the prices manage to close above 30.5 today, CSCO may find renewed strength and continue up. Though, if prices remain within the first and second standard deviation of the bollinger bands, i would expect periods of conslidation more to the downside before a continued move up.

I would hold CSCO to the end of the day before deciding what to do, considering the bulls are struggling to get a footing. On the intraday, there is possible support at 29.9, but there may not be enough momentum to reach the 30.5 mark.

No comments:

Post a Comment

 
Disclaimer
This Blog has been developed by Analyze Capital LLC, and as an independent organization we provide “AS IS” information without warranty. The ideas and opinions expressed by the contributers of this blog are personal and do not represent the actions or policies of Analyze Capital LLC. The contents of this blog do not intend to assert recommendations or to offer advice of any kind. We are not responsible the consequences, be they gains or losses, that may result from using any of the information from this blog.