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CSCO to Fill Gap Below or Create Double Bottom

Recs

1

October 07, 2013 – Comments (0) | RELATED TICKERS: CSCO

There is the potential for a double bottom here, but it is looking extremely prevarious for CSCO right now.

1) If it can't hold Support, a move to $21 is inevitable.

2) If it can hold that double bottom that could be forming, that does not equal a buy signal. Hold still, there's a lot of work to be done before CSCO can be considered a buy. For now only focus on the short setup. 

Here's the technical analysis for CSCO:

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