Is CSCO a short term short?

Discussion in 'Stocks' started by hajimow, Jul 21, 2009.

  1. NoDoji

    NoDoji

    Should get another bounce in tech tomorrow. CSCO next resistance (from Oct) is 22.40; should be some old buy-and-holders looking to get out, and price this far above the 200 MA usually pulls back at least halfway in the near term.
     
  2. I don't see any sign that it will stop its rise short-term.

    Until I see that doji candle or consolidation for a couple days in a row, its got room to run.
     
  3. better range for a short is 23-24
     
  4. From what I see now I am more confident on my prediction. I shorted today after it jumped up. Now I am in the money. CSCO shows early sign of short term exhaustion
     
  5. My gut feeling says NASDAQ will be down tomorrow (Thursday). because of Profit taking. NASDAQ is stretched in short term.
     
  6. ok