CSCO Gets Downgraded, Support?
Posted on Wed 17th Jan, 2007 06:30:08 PM
I post this chart of Cisco (CSCO) to simply raise a question, will the 50 Day Moving Average hold up? Shares of CSCO closed down today nearly 3.5% after the stock was downgraded. Earnings aren’t due out till early February – I have the listed here – and volatility will be heighten around that time. If the stock closes under its 50 DMA on heavy volume that could spell bad news for the networking giant. Technology stocks seem to be under pressure.
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