Wednesday, November 14, 2007


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.

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