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elnidodelaguila (< 20)

Cisco Systems (CSCO) made a bottom Harami candle pattern last week...

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March 27, 2011 – Comments (2) | RELATED TICKERS: CSCO

Good Afternoon Fools:
It seems to me Cisco Systems (CSCO) made a bottom in weekly charts. RSI & Macd are in the low band, so heavy oversold. trading volume is up last week, and made a bottom figure (last two candles) Harami candle pattern, this figure usually is drawn at the end of a downtrend.
That implies a nice drain of short positions in last weekly candle...
It could be a nice pivot point.
Dividend is near and fundamentals are great, so it could be a nice entry point to go Long.
Have a nice week-end Longs.
www.elnidodelaguila.com

2 Comments – Post Your Own

#1) On March 27, 2011 at 3:26 PM, topsecret10 (< 20) wrote:

Cisco Insider sales last 12 months ($201,382,946) One director sold 500,000 shares last week and now only holds 76,000  ......   Not a good sign...   TS

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#2) On March 27, 2011 at 6:44 PM, Pick1es (23.41) wrote:

As an IT consultant, I would suggest staying away from CSCO. Their business model is becoming less competitive than it was in the past. Unless I see major changes in the way they sell equipment to clients, I wouldn't be surprised if they cease being profitable in 10-15 years.

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