Cisco Next leg down to 50$ starts this week Short

Cisco Systems, Inc.NASDAQ

Description

⋅ Dec 5, 2021 8:57 PM

White line - Bear flag
Yellow line - Bear channel
Watch for the rejection around 56.90
Stop loss 58$

You can enter at the rejection or wait for it to fall out of the Bear flag. once cisco breaks that bearflag support. it will really sell

Comments

mommymiles

⋅ Dec 13, 2021 5:33 PM

This push out of the bigger flag is questionable. Today looks like a base day. Let's see if it tries to rally and can break resistance on the RSI. It may be a fake out.

dfiguere

⋅ Dec 6, 2021 9:19 PM

I think you are looking at a wedge thank you for your finding

ContraryTrader

⋅ Dec 6, 2021 10:30 PM

@dfiguere Yes it is like a wedge but the reason I felt it a flag is because of the initial drop from earnings to form a pole