Nearest Support: N/A
Catalyst: Lowered Growth Targets >>5 Stocks Hedge Funds Hate -- but Should You? Yesterday, Cisco Systems ( CSCO) hosted its annual Financial Analyst Conference in New York, an event that's attended by the Wall Street research departments that cover the $108 billion IP networking hardware and software firm. During the conference, CFO Frank Calderoni announced that CSCO expected lower growth outlooks than Wall Street had been pricing in, spurring a small loss on high volume today. The news is just the latest in a series of negative fundamentals from Cisco -- and you can see it in the chart. CSCO is at the bottom of a downtrending channel, a bearish setup that points to little buying activity in this stock. I'd suggest staying away from shares.