Cisco (CSCO) used to be one of the four horsemen of the Nasdaq (tech stocks) rally.
While CSCO still has plenty of influence as a large cap leader in the Semiconductor Sector, it is under-performing its peers and trading in a pennant pattern.
In short, Cisco has traded sideways for the past few years, and is trading just below its 2000 high.
The result of this pattern will send an important message to the red hot technology sector! Down = Bearish, Up = Bullish. Stay tuned!!
$CSCO Cisco Systems “monthly” Stock Chart
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The author may have a position in mentioned securities. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
