CSCO gapped down to the 13-EMA on the daily chart at 20.66 and reversed up at 20.60, which is a pierce of the 13-EMA. That indicates it might visit the 20-EMA at 20.33, which is just above the floor around 20.20:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14!lb5][J11340270,Y]&pref=G
The gap down today created an island reversal for the entire month of September. It also broke the uptrend off the August lows on CSCO.
The weekly adjusted support off the 8.12 lows through the April lows on CSCO is around 19.90 or so, the top of the gap up from Sept. 3rd. |
