CSCO has moved into overbought territory on the money flow index, a bearish condition. The macd continues in bull territory for the ninth trading day.
Trading at $24.29, CSCO is about halfway up in retracing a decline from $25.10 on Jan. 15 down to $22.35 on Jan. 28. The stock has been trading in a sideways range since September 2009, roughly between $25 and $22.50.
So the stock has about 8% on the downside before it runs into bearish resistance.
I own CSCO has an iron condor that expires in March. I structured it around those trading levels, so the position will show maximum profit at expiry of the stock is trading between $23 and $25.
CSCO doesn't score real high on the financials and analyst ratings, and has a ways to go before the next earnings report, so there's not a lot of motivation for any major move beyond the normal fluctuation.
Topics:
Cisco Systems networking
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