Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Thursday, February 3, 2011
CSCO- LOOKING BULLISH
I don't normally count waves for individual stocks but the wave count just stood out at me along with the technical patterns and it looks pretty bullish, at least for the 25-27 targets along with a possible move to 35.
Earnings announcement is next week.
1. A bull flag pattern - target $35
2. Iinverted head and shoulders pattern - target $35
3. weekly macd trendline break
4. weekly macd signal line cross
5. weekly zero line cross imminent