Trade Idea For Thursday - Cisco Systems

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Trade Idea For Thursday - Cisco Systems

By Antonio Costa on October 9, 2008 | More Posts By Antonio Costa | Author's Website

Cisco (CSCO) - Looking at the daily technical chart there is no reason to take exposure in this stock as there is no evidence of the reversal of the ongoing downward move. The stock is still trading below 50 day and 200 day moving average with both moving average still falling. Another weak sign is MACD which is still below 0. Only a close above $20.56 will reverse the current downtrend. For now, it would be better to stay away from this stock.

Chart courtesy of stockcharts ( click to enlarge )

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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