Is CSCO a short term short?

I believe there will be at least a $1 pullback in a week considering its $3 run-up.. CSCO has proved to be not a wild stock recently. Report is Aug 4th.

http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=csco&time=&freq=

 

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.

 

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.

 

better range for a short is 23-24

 

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

 

My gut feeling says NASDAQ will be down tomorrow (Thursday). because of Profit taking. NASDAQ is stretched in short term.

 

ok