CSCO has breakout from it's long term uptrend channelNASDAQ:CSCO
Hi everyone , we hope you're all fine and having a nice time.
let's take a look at CSCO chart together :
- A long-term uptrend channel is recently broken
- The price is going to move as a pullback now
- Also the price is so close to touching the 50 EMA
- also there are fundamental issues that can affect on the price of CSCO to fall
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I think we must wait for price action and candlestick confirmations to the pullback
and after that we can take a short position with 1.72 R/R
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what's your opinion guys ?
I'd be glad to see your comments and ideas .
4CSCO trade ideas
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$CSCO with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CSCO after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66%.
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CSCO Log Chart AnalysisGood reclaim of important monthly level, I'd prefer to see a nice retrace back to 57s but the opportunity cost may outweigh the better entry. We're entering peak euphoria ranges from the internet bubble... if we escape this range, north of $82 the fun really starts. All time highs are a mere 40% away, with 50%+ upside from there.
Take profit levels marked using fib retracement of the internet bubble top and bottom. I expect this to run from this spot, good R:R with scaled stops under the monthly level.
Considering this analysis was done at high time frame, it may take a while to play out. Below 53.41, I think this trade is invalidated.
Cisco Time for the pullbackAlmost reached the top of consolidation (58$).
Primary pattern is a huge double bottom
Secondary pattern -Rising wedge
I think we see a pullback here to the 48-50$ area to make a handle for the double bottom before making new ATH.
If this dumps past 48$ we're headed back to 40$...
Pull back signs?
1.Top of the wedge
2. Volume decreasing
3. MFI flashing
4.Macd overbought
Iron TariHi guys,
this is again a CSCO short condor, 4 weeks and 3% strike, gives 30$ credit for 1 dollar Spread. RR is 30/70=0.42, but according to the strategy the odds are at our side, 88% to earn all the premium.
The short strikes are 51 and 54, so BE are at 51.30 and 53.70.
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Enjoy your wallet!
Tari.