About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Momentum Stock: Cisco Systems (CSCO)

July 26th, 2007 • Related • Filed Under

Well, the market decided to roll over and crap the bed. One of the few plays out there still holding the fort down is Cisco Systems.

On this one-year weekly chart, you can see that the stock had been basing sideways for about nine months now.

More recently, there was a breakout above support near $28 per share. When the bulls finally step in to support the Dow this stock will really begin to take off.

If the technicals hold you could see shares hit $38 within six months.

csco

Our Recommendation: Buy share of CSCO at or near $29.42 and place a stop loss below major support at $27.50.

Good Investing…

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