This is a segment of a column that was originally published on RealMoney on May 3 at 11 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.
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One of my regular readers wanted my take on a choppy chart of
The stock has been trading in a $3 range for several months.
But the price has finally moved back above the 50-day moving average, and yesterday's close was above the upper Bollinger Band on fairly heavy volume.
That's bullish. So, if you're long, why not just sit on your hands and let the market do the rest?
As long as the rest of the market is strong, I'm sure CSCO will tag along.
(Please see the chart below)
to see more of Dan's charts.
At the time of publication, Fitzpatrick had no positions in the stocks mentioned, though positions may change at any time.
Dan Fitzpatrick is the publisher of
, an advisory newsletter and educational forum dedicated to teaching effective risk management and trading methodologies to aspiring traders and investors. He is a former hedge fund manager and a member of the Market Technicians Association, and he now trades from his home in San Diego, Calif. While Fitzpatrick holds various securities licenses, he does not give recommendations to buy or sell stocks. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. He appreciates your feedback;
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