- NASDAQ recently Moved into a Monthly uptrend so CISCO has good market fundamental wind in its sails.
- Cisco is Currently in a Monthly downtrend but a weekly uptrend
- Monthly Sellers have control, while weekly buyers making a strong but struggling retracement of the downward path.
- Momentum of the retracement is slowing as it will enter a struggle to get above key level of $50.33. NASDAQ has successfully accomplished this. good sign for CISCO
- Look for the struggle to create a range to develop between 446.00-$50.30 for a couple months
- When large players take their positions in the range (large vertical green candle/s) enter on the next struggling pullback
- You want to see a break out of that range above $50.33 and hold at least briefly (couple weeks)
Concerns:
- Monthly downtrend has greater volume and momentum than the weekly retracement, signaling that it may have to turn down to get more buyers attracted to buy at a lower price because their interest may be waning at current prices.
Reward to Risk: between 1.3-3 to 1 depending on entry
recommend:
- exit position below $40.48 and consider re-entry later
- a break above (and hold for couple of weeks) $50.33/ add to position but no more than initial position or even less (50%)
- Look to take some profit (at least 70%/ 90% if struggling) @ $57.47
- don't look at other timeframes it will only scare or elate you and they have nothing to do with the dynamics of this timeframes trade. However the Monthly is the guide we are trying to follow and have pull us along.
- Cisco is Currently in a Monthly downtrend but a weekly uptrend
- Monthly Sellers have control, while weekly buyers making a strong but struggling retracement of the downward path.
- Momentum of the retracement is slowing as it will enter a struggle to get above key level of $50.33. NASDAQ has successfully accomplished this. good sign for CISCO
- Look for the struggle to create a range to develop between 446.00-$50.30 for a couple months
- When large players take their positions in the range (large vertical green candle/s) enter on the next struggling pullback
- You want to see a break out of that range above $50.33 and hold at least briefly (couple weeks)
Concerns:
- Monthly downtrend has greater volume and momentum than the weekly retracement, signaling that it may have to turn down to get more buyers attracted to buy at a lower price because their interest may be waning at current prices.
Reward to Risk: between 1.3-3 to 1 depending on entry
recommend:
- exit position below $40.48 and consider re-entry later
- a break above (and hold for couple of weeks) $50.33/ add to position but no more than initial position or even less (50%)
- Look to take some profit (at least 70%/ 90% if struggling) @ $57.47
- don't look at other timeframes it will only scare or elate you and they have nothing to do with the dynamics of this timeframes trade. However the Monthly is the guide we are trying to follow and have pull us along.
Note
The spike downward and rejection in the upward direction is a good sign that there is a VERY strong interest in buying at that level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.