Wednesday, August 11, 2004 6:57:51 PM
CSCO and the Mega-Gap
It’s not quite often to watch a gap like this…
CSCO was trying a rebound movement yesterday, almost reaching the 20.50 price zone…
Today’s session was even a surprise to traders who were expecting some negative reaction on the resistance levels…
Take a look at my updated CSCO Technical Chart here:
http://globalspeculators.com/trading_futures/index.php?topic=27.0
Right now, we have an oversold momentum situation, and an huge gap down to fill in the near future… but attention… make no mistake… this gap WILL be filled… just don’t know exactly when… and this could be quite a problem on a ferocious market like this one…
For the next weeks, 19.87 will be the new major resistance level, and besides that I can only see the 16.75-17.50 price zone as new downside references…
I’m really glad, I jump out of CSCO a few sessions ago…
Best regards,
Jesse Livermore
It’s not quite often to watch a gap like this…
CSCO was trying a rebound movement yesterday, almost reaching the 20.50 price zone…
Today’s session was even a surprise to traders who were expecting some negative reaction on the resistance levels…
Take a look at my updated CSCO Technical Chart here:
http://globalspeculators.com/trading_futures/index.php?topic=27.0
Right now, we have an oversold momentum situation, and an huge gap down to fill in the near future… but attention… make no mistake… this gap WILL be filled… just don’t know exactly when… and this could be quite a problem on a ferocious market like this one…
For the next weeks, 19.87 will be the new major resistance level, and besides that I can only see the 16.75-17.50 price zone as new downside references…
I’m really glad, I jump out of CSCO a few sessions ago…
Best regards,
Jesse Livermore
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
