StockWatch: CSCO
CSCO has formed a base and is approaching a very important milestone - the $30 mark. It touched $30 briefly yesterday, but was not able to break out. From the 10 year chart below, you will see why $30 is an important mark for it to clear - it was a previous resistance way back in 1999 and at the start of 2004. If it is able to breakout of $30, next target will be $35.
posted by Simply Options Trader at 4:26 PM PERMALINK
3 Comments:
Hi,
I was wondering if I could get a link on your page. I put yours on mine. Thanks
--Doug
www.tomorrowsnewspaper.blogspot.com
Do you think even after that many years the chart way back then will have an affect on trading now? If so then I guess that means more people look at charts than just trading only on fundamentals probably.
Hey Doug, thanks! Will check out your site.
Hi Reno, yes I do think so. There is a story behind every chart and prices do have memory. When a stock is trading at 52 week high, look back at the 2 year chart or as far back as you need to see the next resistance or support level. That's what I do :)
Post a Comment
<< Home