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  • The Tech Stock Trade: Cisco 0 comments
    May 16, 2014 3:06 PM | about stocks: CSCO

    Yesterday, Cisco (NASDAQ:CSCO) reported earnings. Cisco is one of those old tech stocks, like Yahoo (NASDAQ:YAHOO), Microsoft Corporation (NASDAQ:MSFT) and IBM (NYSE:IBM). One thing they all have in common is the possibility of going lower in the coming days. Also important to note is that the major indices, specifically the S&P500 (NYSEARCAPY), saw some selling after making a new high.

    Now, CSCO (NASDAQ:CSCO) has gapped higher and the daily chart is showing a topping-tail on volume. This action on the daily chart is telling us that institutions are selling the stock.

    As a technical trader I will play this on the short side after a retrace into the tail to minimize my risk .

    (click to enlarge)

    Kristof De Block

    Elite Round Table

    Stocks: CSCO
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