Descending channel makes confluence with long term trend line (red) and price. Double bottom at confluence as pullback after break of previous swing high. Short term target at last swing high. Ultimately price could breakout of channel offering a secondary entry at the pullback after the channel breakout with long term target around $34. If price instead breaks...
Dec 11 opened gap down after bearish candles of 3 days before, open Short once the open price lower than the close @ $26.2, stop loss if price hike up to close the down gap $26.6 (or $26.5)
CSCO will report earnings on the 11/12. The picture is pretty similar to what happened on November 2010. It's hard to find fractals like this: it reminds lumber 2012/2014.
Cisco Systems trades in macro range - on 5 and 10 year basis.
Price is now currently trading between 2 key levels. The lower level is combined from 5-year (260 weeks) and 10-year (520 weeks) means and is at about 22. The higher level is combined from upper 1st standard deviations from the same means and is at 27.
Price trading within 1 standard deviation is not...
A short term move to the upside is possible in cisco. Since this is a B wave correction, I expect the upmove to be choppy. Trading this is only for seasoned traders. For a better opportunity, please check out my chart of BOEING airlines. It offers a much better upmove chance.
Hi Fellow Risk Takers,
Here is an update to the Trend Reversal Breakout idea on CISCO ($CSCO), posted during January (Potential Multi-Year Trend Reversal Spotted for CISCO)
This idea is ideally intended for the long term, up to 1 year or even longer.
(1) During 2008 crisis period, price of Cisco has plunged from around $33 to as low as $13.50 (-56%), which...
Hi Fellow Risk Takers,
Here is a Reversal Breakout idea on CISCO (CSCO).
(1) During 2008 crisis period, price of Cisco has plunged from around $33 to as low as $13.50 (-56%), which signals an obvious bearish trend.
(2) Between March 2009 to August 2011, price has consolidated sideways in a large range ($27.50 – $13.50). We also note the formation of 2...
Watch when if it triggers for large volume. The EMA's are headed bullish and bounced off the 50 EMA. The SMA's are headed steadily higher. Stochastics gave a buy signal recently, RSI is slightly overbought and MACD recently is giving a buy signal. BB need to be broken. ADX is around 35 and would agree with the trade if it headed higher if it confirms.
Trigger is...
But it's also not the best time to close it. The indicator RSI is in a state of extreme oversold. So I would not expect a protracted decline. Those who already holds a short position, I would advise to focus on the area of strong resistance and lower bounds of current trends.
