We can see a rejection at 200-day MA (yellow line) but there's a clear direction for Cisco. $47.89 could be a nice target. However, this is not a call.
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Cisco Systems, Inc.
We go up the channel for too long.
Now there will be a breakdown and a reversal of share price.
About stop loss:
Stop loss is placed just above the weekly candle in case of a false touch.
$CSCO Approaching major trendline resistance. A great short setup at $53 with a profit target of $48.31, which meets long term support and is a partial gap fill.
Usually with gaps, there will be a partial (mid-way) gap fill on the first attempt, then a snap back rally, consolidation and at some later point a complete gap fill.
This $CSCO opportunity is a great...
CSCO reversed off its resistance at 43.47 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop further down to its support at 40.73 (horizontal swing low support).
Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
Previous analysis i showed a bear flag that worked out quite nicely, but it did not reach it's target though. At the moment it looks like a wedge in the making now. However, i do not really like the shape of it, but because it is at that red resistance zone, i am taking a shot at it. The RR is amazing on this one and on top of that, i will start out with a 50% pos...
Looks like a solid bear flag from which we will probably see a breakout this week. If the 45ish breaks (green support zone) the chances become much bigger that the target around 42 gets reached. Price needs to stay below the red zone for the bear flag to remain valid.