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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (59538)5/16/2002 2:02:13 PM
From: rkral  Read Replies (1) | Respond to of 77400
 
The first island day was 6 days ago

Then you have again misidentified the island of which MM and I speak. *The second gap was 6 days ago.* Re-read the posts .. carefully noting the dates.

An island has an upward gap on one side and a downward gap on the other. If the upward gap precedes the downward gap, it is potentially an island reversal with bearish implications. If the downward precedes the upward, it is potentially a bullish island reversal. The later is the case in hand. It's not a pretty classical island pattern. Your "island" is actually a consolidation, meaning the prices continued in the same direction.

Ron



To: Gottfried who wrote (59538)5/17/2002 12:40:32 AM
From: ehasfjord  Respond to of 77400
 
I believe that what "we" see on the daily chart for CSCO
is what is called "three white soldiers". The gap has
been covered, CSCO has been at a low price area, and
each "white" candle is larger than the former. Each of
the closes has been higher than the one before.
I must admit, that in an earlier post that I saw a
"hanging man" and needed more confirmation that CSCO
was not going to tank. Guess what, it didn't.
Bottom line, IMHO it's time to buy.

Take care!


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