UnknownUnicorn1314136
Long

CSCO breaking out slightly, strong call buying volume

NASDAQ:CSCO   CISCO SYSTEMS INC
Daily chart reveals breakout of resistance within consolidation pattern. Should result in upper resistance of pattern being revisited in an attempt to breakout out anc continue into 50s. Move to mid 47s area seems most likely, the point at which resistance should be found again. Snaphot below shows hourly chart, giving a glimpse of the breakout. Shows last candle was the breakout, and that it held above the resistance, as if confirming it as a new support. Seems ready to make it's measured move upward.
Comment: $AMZN effect got $CSCO day of chart posting, approximately 1 pm, resulting in a WILDLY overblown selloff, and a tremendous buying opportunity in my opinion. If looking for entry, the AUG 17 C45 currently at .29 would be something to check out. This same thing happened to NUMEROUS stocks before, and MANY of them had great runs AFTER the sharp drop. (i.e. $WMT, $COST, $FDX, $UPS, and many more)

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