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Cisco Nearing Stiff Resistance


Monday January 2nd, 2012
Cisco Nearing Stiff Resistance
by Mike Paulenoff www.MPTrader.com

Cisco (CSCO) acts extremely strong, but is approaching a challenging resistance area around 19.00.

The stock today has rocketed from around 18.00 towards a test of its key Nov-Dec resistance plateau, now at 18.95 (up to 19.05). This level will likely stall the current rally prior to a final thrust that projects to 19.25/35 to complete the initial upmove from the Nov-Dec bullish coil pattern.

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