Cisco Systems, Inc. (CSCO) Message Board

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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 74.61

+2.0%

10:22 AM EST

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To: MaryinRed who wrote (22420)	2/11/1999 12:20:00 PM
From: Chip Anderson	Read Replies (2) of 77397

Any Technicians out there? As I mentioned over the weekend in Message 7706423, CSCO _appears_ to be putting in a text-book "Head & Shoulders" topping pattern right now. That pattern continued to form yesterday when the stock turned around at 95 again. You can see this on my updated chart at coolhistory.com The H&S pattern consists of 6 major points: 1. The Left Shoulder (on high volume) 2. The first bounce off of the neckline 3. The Head (on high volume) 4. The second bounce off of the neckline 5. The Right Shoulder (on high volume) 6. The pentatration of the neckline, completing the pattern. Cisco has 4 of these 6 points right now: 1. 106.7 on 1/08 2. 95.88 on 1/13 3. 115 on 2/01 4. 95.94 on 2/09 I'd watch very carefully for a price turnaround near 106. If that happens ON HEAVY VOLUME there is a better than 50/50 chance the stock could move swiftly lower to somewhere near 75 (subtract the height of the head from the neckline). Disclosure: I am (currently) long on CSCO. Chip coolhistory.com

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