Cisco (CSCO) has hurdled its major resistance line from April 2010 (27.74), which cut across the price axis this morning at 18.71. The price structure also has met its optimal target off of the Jun-Oct 2011 base formation, at 19.00/10.

As long as any weakness in CSCO holds above 18.60/55, its next optimal target zone is 19.45/55.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.