Wednesday, April 29, 2009

$CSCO: Cracks through 200-day MA.

This is one of many examples of stocks breaking through significant downtrends. CSCO enjoyed a lengthy accumulation phase from the time of US elections to the present 'handle' for the month of April. The push past the 200-day MA is an indication of confidence on the part of bulls and lends credence to dip-buying at either 20-day or 50-day MAs.

I have entered a Zignals YourCall for a push to $24s with a stop on a loss of the recent $17.15 reaction low.

Analyst and Commentator Calls list their target price with a Zignals applied Stop to balance the 'equation' (some Commentators provide their own stop prices)

CSCO is only one example, there are plenty more out there.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.