New Upleg for Cisco
Mid-Day Minute for Tue April 6th 2010
by Mike Paulenoff, www.MPTrader.com
by Mike Paulenoff, www.MPTrader.com
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My near- and medium-term pattern work argues that Cisco (CSCO) ended a correction from the 3/25 high at 26.85 into last Thursday's low at 25.66, and has since embarked on a new upleg that should hurdle 26.85 on the way to 27.25/50 next. Only a break below 25.66 will compromise my current outlook, and will point to additional corrective weakness into the 25.00-24.80 area prior to the next upleg.
