Tuesday, December 28, 2004 12:59:34 PM
CSCO - Short term Technical Overview
Hello Guys !
Long time... no see
This is only a short technical outlook on CSCO short term chart:
The main Medium term resistance is placed on the 19.87 level, a value marked on the August sell-off, representing the upside value of a gap. This level is being tested over the last few months, but no solid breakout was made since then.
Since August lows, we can also talk about another important value, the 18.30, which is the present value of an ascending support level. This support can be considered solid as it’s been tested 4 times, working very steady preventing any downside breakdown on CSCO movements.
So, in medium terms, 19.87 and 18.30 are acting as main values for any possible move, which of this values could generate up/down signals if they are crossed over.
CSCO Chart for this Technical analysis:
http://x-peculator.com/nasdaq_futures_board/viewtopic.php?t=9
Looking now a bit for the short term, CSCO is having consecutive higher lows, and higher highs on the last month and a half, creating an interesting pattern that could be considered an ascending channel. On this time-frame, 19.15 should be interpreted has the support level, and a breakdown could project CSCO to the medium term support on 18.30 level.
Momentum is quite, and not giving many directions, so the wise thing to do is to wait for a better chance to trade CSCO on technical indications… That could be on the next days…
Best regards !
Jesse Livermore
www.x-peculator.com
Hello Guys !
Long time... no see
This is only a short technical outlook on CSCO short term chart:
The main Medium term resistance is placed on the 19.87 level, a value marked on the August sell-off, representing the upside value of a gap. This level is being tested over the last few months, but no solid breakout was made since then.
Since August lows, we can also talk about another important value, the 18.30, which is the present value of an ascending support level. This support can be considered solid as it’s been tested 4 times, working very steady preventing any downside breakdown on CSCO movements.
So, in medium terms, 19.87 and 18.30 are acting as main values for any possible move, which of this values could generate up/down signals if they are crossed over.
CSCO Chart for this Technical analysis:
http://x-peculator.com/nasdaq_futures_board/viewtopic.php?t=9
Looking now a bit for the short term, CSCO is having consecutive higher lows, and higher highs on the last month and a half, creating an interesting pattern that could be considered an ascending channel. On this time-frame, 19.15 should be interpreted has the support level, and a breakdown could project CSCO to the medium term support on 18.30 level.
Momentum is quite, and not giving many directions, so the wise thing to do is to wait for a better chance to trade CSCO on technical indications… That could be on the next days…
Best regards !
Jesse Livermore
www.x-peculator.com
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