Cisco Systems finish the week in good shape drawing a powerful Morning Star Pattern, that could lead CSCO to gain some lost ground lately, with extreme volatility.
It seems to me that new rebalance of Nasdaq index helped giving Cisco Sytems an improve overweight as Nasdaq´s member. That kind of technical rebalances lead to fund and ETF´s managers to rebalance their portfolios that reply in their funds widely watching Nasdaq 100.
Technically speaking and to finish; that kind of patterns at the end of a downtrend are widely follow by traders and in general by investor´s community.Graphs courtesy www.freestockcharts.com
Have a nice week-end.