There are mega players in technology land that have been monsters in the past. These companies are still a force to reckon with, however, their stock prices have fallen drastically. The three main old school tech stocks are Cisco Systems, Inc. (NASDAQ:CSCO), Microsoft Corporation (NASDAQ:MSFT) and Hewlett-Packard Company (NYSE:HPQ). All three of these technology stocks are hovering well off their all time highs and most are near their 52 week lows.
Cisco Systems has major support on the daily chart at $13.85. The stock is currently trading at $15.47. While this seems like a long way off, it is important to note that the stock was over $22.00 a share earlier this year. For those who are patient traders and want to make money, wait for this level on CSCO and buy for the longer term.
Microsoft Corporation has been stuck in purgatory for years. While hitting a high in the year 2000 of close to $60.00 per share, it has fallen and been suck in the $20.00 range for close to a decade. There have been small quick pops over $30.00 and under $20.00 but overall, it has remained in this tight range. The buy range on MSFT is $22.85. Should MSFT hit this price, it will be a solid upside mover for many months.
The last old school technology stock is Hewlett-Packard Company. This was a powerhouse and high flier not long ago. However, after many earnings misses and disappointments, it now hovers near its 52 week lows at $35.40. This play has major support at $33.85 and more at $32.80. Smart Wall Street players will accumulate in this range and look to hold.