Stock Picks For Thursday: Cisco Systems And Yahoo

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Stock Picks For Thursday: Cisco Systems And Yahoo

By Antonio Costa on August 6, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of www.stockcharts.com ( click to enlarge )

Yahoo (YHOO) has been selling off since the announcement of the search deal with Microsoft. At this stage the stock looks like it wants to make a reversal. YHOO has found a bottom around $14.24 and wants to reverse to the upside. There is resistance at $14.89, which is the high from last Friday. If YHOO can break through, we should see a continuation of this reversal. Short term momentum indicators, like MACD, RSI, Stochastics are substantially oversold but have yet to show technical signs of a recovery. Keep a close watch on this stock for Thursday.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Cisco (CSCO) released better then expected earnings after Wednesday’s close and the stock is trading higher after hours. We should see a gap to the upside on Thursday in CSCO. The stock has resistance at $22.61 and this is where we will watch for the breakout. If the stock can break through, we could see a test of 52-week highs of $25.25. Technically the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average.

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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