CSCO has breakout from it's long term uptrend channel

Short

Cisco Systems, Inc. (NASDAQ:CSCO)

Updated

NASDAQ:CSCO Cisco Systems, Inc.

trendanalysis trendline supportandresistance csco stocks usstocks usd pullbacktrade stocktrading stocksignals priceaction

CSCO

Hi everyone , we hope you're all fine and having a nice time.
let's take a look at CSCO chart together :
- A long-term uptrend channel is recently broken
- The price is going to move as a pullback now
- Also the price is so close to touching the 50 EMA
- also there are fundamental issues that can affect on the price of CSCO to fall
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I think we must wait for price action and candlestick confirmations to the pullback
and after that we can take a short position with 1.72 R/R
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what's your opinion guys ?
I'd be glad to see your comments and ideas .

Comment:

! this is just a personal analysis and this person has no responsibility of your trade and risk !

Trade closed: target reached

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