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Thursday, October 09, 2008 

Trade Idea for today - Cisco Systems

Chart courtesy of stockcharts ( click to enlarge )

CSCO - Looking at the daily technical chart there is no reason to take exposure in this stock as there is no evidence of the reversal of the ongoing downward move. The stock is still trading below 50 day and 200 day moving average with both moving average still falling. Another weak sign is MACD which is still below 0. Only a close above $20.56 will reverse the current downtrend. For now, it would be better to stay away from this stock.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. See you later !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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