Looks Like Cisco Wants to Climb

It's cold outside and it's choppy inside. The chop I am referring to is that of the market, of course. It seems to be treating traders today like those cans you used to see on the Ginsu knife infomercials. Ah, those were the days -- when a knife was a knife and a spork was still cool to use in the school cafeteria. It must be Cisco Systems (CSCO) that has me reminiscing today. Why? Well, look at the chart. The stock actually looks as if it wants to move higher, John Chambers be damned.

Cisco (CSCO) -- Daily Source: StockCharts.com View Chart » View in New Window »

The true breakout level looks to be $23. Cisco has failed twice today at $22.94, and it was capped out in that area Tuesday. Still, the moving-average convergence-divergence (MACD) line is strong, and momentum as measured by the commodity channel index (CCI) has remained above 100. Getting above $23 may take a little help from a market bump, rather than this chop. But, once it happens, momentum buyers should find this name. I would anticipate on a quick move to $23.75....291 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.