Posted by 15 December 2005

Chart Request: Cisco Systems, Inc. (CSCO)

Frank wrote this about CSCO:

CSCO looks like a double bottom with strong support at 17.00 and heading up to 200 DMA. What do you think of it?

I agree with Frank’s read of the chart but there’s too much overhead resistance for me to be interested in it. Maybe if it closed above the 200-day moving average I’d take another look. I just think there are easier plays out there.

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Comments

  1. Posted by Frank on December 16, 2005 at 2:15 am

    Thanks for the chart Mike. With a tight stop at 17.50 I think it is decent swing trade. A late Dec. rally might be enough to break the 200 dma resistance… otherwise a break even proposition. I went big and bought a few Jan 06 17.50 calls… let us know if you see any other good swing trades!