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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 77.04-0.5%Dec 31 3:59 PM EST
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To: KC~ who wrote (26584)6/23/1999 10:28:00 PM
From: Donald F. Figer  Read Replies (2) of 77400
 
To all,

Take a look at your favorite CSCO price chart for the last
few months. Notice that we hit local maxima near the following
dates:

4/10
4/27
5/15
6/8
6/22

At this point, we can play all sorts of games, like:

- drawing a least squares trend line through the maxima,
excluding the data point near 6/8
- drawing a horizontal trend line through the first 3
maxima and claiming that this is a resistence level (120 or
so - I am guessing this is what KC was talking about in:
Message 10244767.
- noting that the maxima are periodic, i.e., we will be going
down from here
- claiming that we are basing here (how much distribution has
occurred above 60?)
- noting that we are at a global maximum, i.e. we had a breakout

Note that all these scenarios ignore the macro backdrop, i.e.
rate hikes.

Anyone want to take a stab at technical analysis? I think
that DownSouth already made his prediction on a fundamental
basis in:

Message 10245931

Thanks
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