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Strategies & Market Trends : Longer-Term Market Trends
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To: rcksinc who wrote (929)6/12/2008 12:18:45 AM
From: AllansAlias  Read Replies (1) of 3209
 
CSCO and GILD are two of the nicer looking mega-cap wedge setups out there.

First, here is GILD, in what appears to be an ending diagonal bearish wedge, complete with cute little throwover to the upside last week. Target would be a lock for $49.50 and likely that $42.50 area in the longer-term.



Now, CSCO... This one appears to be a B wave wedge (a-b-c-d-e). The target here would be at least $18 I think.



It is worthwhile to check out the wider context on CSCO. See this post/chart from May 10:
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