Saturday, November 12, 2011 9:40:11 PM
Cisco (CSCO) -
http://stockpickr.com/5-stocks-setting-break-out.html-12
>>> One stock that’s already started to break out is Cisco Systems (CSCO), which designs, manufactures and sells IP-based networking and other products related to the communications and IT industry and provides services associated with these products and their use. This stock has not done much in 2011, with shares off by around 5%.
If you take a look at the chart for Cisco Systems, you’ll notice that this stock has actually been uptrending for the past three months after it found some big buying support at $14.84 to $14.95 a share. After finding that buying support, the stock has been ramping and is now triggering a big breakout with shares moving above $18.60 a share on high volume. Volume on Thursday (an up day) registered about 148 million shares, which is well above the average volume.
Market players should now watch for this stock to sustain a move and close above the next major resistance level at $19.50 a share. A move above that level will set this stock up to start filing a major gap down in price that occurred back in February. That could easily push shares of CSCO back into the $20s.
One could be a buyer of this stock off any weakness and simply place a mental stop a few percentage points below the breakout price of $18.60. I would look to add aggressively to any long position once the stock moves above $19.50 with volume. Look for volume that’s tracking in close to or above its three-month average action of 66,743,600 shares. A high-volume move over $19.50 should put that gap down into play and spark a solid rally for CSCO, so watch that level closely in the coming days and weeks.
Cisco shows up on recent lists of 10 Dow Stocks With Lowest P/E Ratios and 3 Dividend Stocks Poised to Rally <<<
http://stockpickr.com/5-stocks-setting-break-out.html-12
http://stockpickr.com/5-stocks-setting-break-out.html-12
>>> One stock that’s already started to break out is Cisco Systems (CSCO), which designs, manufactures and sells IP-based networking and other products related to the communications and IT industry and provides services associated with these products and their use. This stock has not done much in 2011, with shares off by around 5%.
If you take a look at the chart for Cisco Systems, you’ll notice that this stock has actually been uptrending for the past three months after it found some big buying support at $14.84 to $14.95 a share. After finding that buying support, the stock has been ramping and is now triggering a big breakout with shares moving above $18.60 a share on high volume. Volume on Thursday (an up day) registered about 148 million shares, which is well above the average volume.
Market players should now watch for this stock to sustain a move and close above the next major resistance level at $19.50 a share. A move above that level will set this stock up to start filing a major gap down in price that occurred back in February. That could easily push shares of CSCO back into the $20s.
One could be a buyer of this stock off any weakness and simply place a mental stop a few percentage points below the breakout price of $18.60. I would look to add aggressively to any long position once the stock moves above $19.50 with volume. Look for volume that’s tracking in close to or above its three-month average action of 66,743,600 shares. A high-volume move over $19.50 should put that gap down into play and spark a solid rally for CSCO, so watch that level closely in the coming days and weeks.
Cisco shows up on recent lists of 10 Dow Stocks With Lowest P/E Ratios and 3 Dividend Stocks Poised to Rally <<<
http://stockpickr.com/5-stocks-setting-break-out.html-12
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