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Cisco Flashes Buy Signal

CSCO reversed at its bullish support line

   

Cisco Systems (NASDAQ:CSCO) — This manufacturer of IP-based networking and products related to communications and the IT industry has stabilized its profit margins, according to analysts at Credit Suisse who recently revised their price target to $27.

Technically CSCO broke from a bear market in October and has regularly plotted along its 50-day moving average with corrections being reversed at its bullish support line.

Last week, the stock reversed from a conjunction of both lines and flashed a buy signal from the stochastic. The technical target for CSCO is $24.

03 12 12 csco 300x189 Cisco Flashes Buy Signal
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chart key Cisco Flashes Buy Signal


Article printed from InvestorPlace Media, http://investorplace.com/2012/03/trade-of-the-day-cisco-systems-nasdaq-csco/.

©2014 InvestorPlace Media, LLC

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