Thursday, January 26, 2012
What Now for Cisco?
Based on the long term chart, Cisco has broken the downward range trading and is now going into a smooth uptrend move. I believe this uptrend move might be a long term one, however, a meaningful consolidation for this stock is a must for this stock to continue its uptrend strongly.
My target for Cisco at $17.20 is well supported by 2 important technical indicators which is the MACD and Stochastic, both are currently showing an overbought position for Cisco and both indicators are showing the blue line is moving downward to consolidate.
Even though the earning growth for Cisco is a slow one, but it is a good fundamental company to invest in for a long run especially with the hugh cash in hand.
I have no positions in Cisco and do not intend to trade Cisco in the coming future as I am currently show hand in Melco Crown (MPEL).