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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 77.38-0.5%Nov 18 3:59 PM EST
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To: Iceberg who wrote (37524)6/14/2000 11:12:00 AM
From: Tulvio Durand  Read Replies (2) of 77400
 
Ice, yes, I was referring to PnF chart (shown below). Now that 66 has been painted, the Triple Top ceiling at 65 has been broken -- a very bullish sign.


67  -O X O X ----O X ----O X O X O X O X ----* --------------------------------67  -
66   O X O X     O X     O X O X O X O X O     *                   x           66   
65  -O --O X ----O X ----O X O X O X O X O ------* --------X --X --x------- Med65  -
64       O X     O       O X O X O   O   O         *       X O X O x           64   
63       O               O X O X         O           *     X O X O x           63   
62                       O X O X         O X           *   X O   O             62   
61                       O X O X         O X O           * X                   61   
60  ---------------------O X O ----------O X O --------X --6 ------------------60  -
59                       O X             O X O         X O X                   59   
58                       O X             O X O     X   X O X     *             58   
57                       O X             O   O     X O X O     *               57   
56                       O                   O     X O X     *                 56   
55  -----------------------------------------O X --X O X --* ------------------55

(Source: DWA & Associates)

The "Med 65" refers to the middle of the price distribution curve: ie, the price is not overextended at this level and has room to run.

Should the market turn South, 62 is strong support. But if it broke by trading at 61 -- look out, for that would be a Triple Bottom break -- a strong sell signal.

Tulvio
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