Networking stocks looks well positioned to bounce off of this notable support level.
QCOM had a strong finish to close on its support line.
CSCO tested support at $19.50 and looks well positioned to bounce from here.
CTXS has been consolidating for two days. Today's higher low foreshadows a move to the upside. Buy on a confirmed break of $41.25
4 comments:
Hi Jamie
Regarding CTXS, when you say enter on a "confirmed" break of 41.25, are you referring to volume confirmation or a candle closing above 41.25 (or neither?).
Secondly, the 20 MA is at 41.28 and the high point from two days ago is 41.42 - is your take that waiting for a break of 41.42 involves giving up a little too much?
Regards
Hi PF,
See my post entitled "CTXS - Update"
Thanks Jamie
You're welcome PF!
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