TradingView
motleifaul
Jan 29, 2024 7:09 PM

CSCO Support Zone Long

Cisco Systems, Inc.NASDAQ

Description

The trend is upward since November and has been corrected in January already. After the little attempt yesterday and the renewed rise today I assume that we can continue to rise.
We are still within a Fibonacci based support/resistance zone. Its bottom is the October low and the top the present January high. May be it will take some time to get decisively above this zone. But if we maintain the momentum it may go up then quickly.

Trade closed: stop reached

Turned the position into a short one now.

Trade active

Short.

Trade closed: target reached

So the deal became profitable finally.
More