Nice move today. Over 10 would lead to an attempt of the highs around 11. Possible larger CnH.
Topping pattern is in place. Breaks down below ~49
Possible H&S top in play. Volume doesn't really fit the script. 55.5 or so will be interesting.
I may nibble into this possible shoulder. It also makes sense to wait for the breakout.
Strong downside momentum quickly stalled at a multi-month pivot. We can target a test of the highs. Make the pivot line work for ya.
Today's high hit the upper boundary line in this multi-year sideways channel. It appears to be a re-test after a false break. in late 2012. I'm looking for a at least a couple of points of downside to ~49-50.
Could short a pop or the loss of the blue line for a short term short trade.
Great rally in CSCO this AM. This fib cluster is resistance until it's not. May offer a decent buy point if/when it breaks above
Notes are on the chart. The larger time frame appears to be turning bullish.
Watching for a hammer into the close for a possible bounce trade early next week. Let the fibs guide you if it bounces.
Impulse to the upside with a low volume downside reaction favors bulls. Watch as price approaches the 10/20D SMA's. With the doji type of candle forming today, this may reverse before it reaches those levels. Regardless, I want to own after it breaks out.