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Strategies & Market Trends : Technical Analysis - Beginners
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To: Michael Watkins who wrote (11522)2/10/2001 12:00:51 PM
From: TechTrader42  Read Replies (1) of 12039
 
CSCO looks interesting in a weekly chart. It's broken down through the 200 SMA in the weekly (not a good sign). If it doesn't bounce here, it could head to 25, where it was in the spring of '99, or even lower. 25 would seem to be the next long-term support level. In the fall of '98, it was at 12.50. If it dropped to half its current price, to around 14, its P/E would still be pretty high, at around 34.

INTC was at around 25 in the middle of '99, and close to 16 in the middle of '98. We're still looking at bull market prices.

Are these stocks bargains now? Well, INTC has a more reasonable P/E, in the low 20s. CSCO's no bargain.

Makes one wonder whether CSCO would make a good long-term short.
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