Cisco gapped up over $1 (6.5%) at the open, based on their earnings. A 3 year chart shows the breakout in 2003, the subsequent breakdown in 2004.
The stock is likely to run into some resistance at $20-21.
click for larger chart
Disclosure: No Position
Note that since I am no longer on the Sell Side, the compliance rules on posting items such as this have become dramatically easier . . .
Category: Technical Analysis
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