Approach Cisco From the Long Side

Cisco Systems (CSCO) broke out of a sideways consolidation pattern in February and has leveled off after a quick sprint higher. Can CSCO resume its rally and march to still higher highs? I think so, but let me show you the latest charts and indicators. (Cisco is a a holding in TheStreet's Action Alerts PLUS portfolio.)

In this daily chart of CSCO going back 12 months, below, we can see a rally from a May low to early September followed by a triangle-like consolidation to an apex in January. A fresh uptrend gets under way in late January that seems to have stalled a little this month. CSCO is above the rising 50-day moving average and the rising 200-day moving average. The 200-day average was successfully tested in December and January. ...175 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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