CSCO -- Cisco Daily Chart Positive Divergence

CSCO Cisco daily chart over the last year shows the downward channel and lower lows and lower highs. Right when the entire tech sector is rolling over and getting slapped silly now, here is CSCO that has already spent the last year in the doghouse. The 18 level is critical long term support going back to early 2009. This is a level that should not break easy, if it does, Katy bar the door.

From these current oversold conditions, with a falling wedge in place and postive divergence, and considering price is at the LT horizontal support at 18 as well as now sitting on the bottom rail of the downward channel, this is the ideal time for CSCO to bounce. A trip to 19 would be projected and at that time a reassessment. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.