On February 4th, 2011 I posted an alert on Cisco Systems, Inc. (NASDAQ:CSCO). I noted the stock was approaching the 200 moving average on the daily chart. This coupled with an extremely extended move in the stock price would act as major resistance and cause a pull back. Yesterday, the stock pushed into the 200 moving average early in the day. Once it did, the stock sold off, closing negative. Today, the selling continues even though the overall markets are neutral to higher. Knowing your key levels is the difference between making profits or losing money.
Reference the old article to see the call by clicking here: Article Calling CSCO pull back off 200MA
Gareth Soloway
InTheMoneyStocks.com
