BATS:CSCO   CISCO SYSTEMS, INC
56 0 0
Cisco had quite a bad year. When the majority of stocks had double digits returns, this one has made a lot less. Letting the fundamental issues Cisco is facing aside, let's take a technical point of view on the stock and see where it could go.
On the daily chart we are quite in a intriguing intersection. On the one hand, we are obviously on a down trend, multiple gaps down, erratic price movements etc. On the other hand, the late action of the stock seems very determined. After a failed break of the $21 level, the price continues to recover in a very persistent             manner, it also managed to close the down gap of mid November. Does it say we should be Bullish? not so fast...after a $2 rally, especially on that stock we will probably see some kind of correction, either a time correction (Price going sideways) or a price correction (Price going down). The current behavior of the price action is vital for the outcome of that stock. If we see a price correction up to 21.50, we will drill down to a shorter time frame and look for a descent price to place our buy order. Same thing for a time correction (nothing less than a month, make sure price is sustainable). Stay tuned!
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