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Wednesday, February 07, 2007 

CSCO and NORTEL in action today

Chart courtesy of stockcharts

Nortel said Wednesday that it would cut 2,900 jobs this year and in 2008 as part of a larger effort to cut annual costs by $400 million. Shares of NT rose 9% to 28.26$ breaking an important resistance level followed by high volume that confirm a new uptrend in the stock.

Chart courtesy of stockcharts

Shares of CSCO rose nearly 3% closing at 28.09$ after reported earnings and sales that beat analysts’ estimates late Tuesday and issued bullish guidance for its current quarter. Looking at the chart the stock have tested 29$ resistance, all indicators are in Bull mode, however the stock needs to break this resistance to go forward.

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. Have a nice evening !!!!


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  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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