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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Currently the stock price is at its bullish channel's support and it formed short term multiple bottom so there is a probability that the stock price could surge to $63 or even higher if it could cross above $57.5 area.
Stock investing strategies
Investing position about Supply-Demand(S&D) strength: In Falling section of high risk & low profit
Supply-Demand(S&D) strength Trend Analysis: About to begin a downward trend as a rebounding trend gradually gives way to increasing limited rises and strong falls.
Today's S&D strength...
*Bearish RSI Divergence
*Broken Wedge up
*Tech/QQQ showing major exhaustion
*Tech still holding
***Too Many bearish warnings on the technical side. Holding JUNE 21 PUTs with min target at 50$... Let's talk about it***
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.