Short Cisco till 30 USDForce index indicates that the last couple 1 hours sessions do not have a strong volume support behind. Approaching the the pricing where there is even lower volume, the stock is bound to fall through until it hits the first support . RSI indicates that is oversold , nevertheless, there is no evident sign that the indicator will be bouncing back out of that territory. Overall, the volume has played a big part in this analysis
4CSCO trade ideas
CSCO- Good Buy CurrentlyFA:
Higher earnings than expected but still a 12% yearly fall.
Service Sector of Business Has grown much larger than the Hardware side
If COVID is to ease in the next 6-9 months, the forecast is positive for CSCO
TA:
Approaching Support Level after strong retracement
Downside is far less than upside if an entry was made in this area.
Fibonacci Retracements follow the S&R Lines.
-Megalodon
Please SHARE/LIKE & Comment and PS:Please follow responsible trade management, this is not financial advice
Trend change for Cisco SystemsA large gap down breaks the upward sloping trend line, causes the GoNoGo Trend to flag a new color and pushes the GoNoGo Oscillator further into negative territory.
The GoNoGo Trend has changed for Cisco Systems, painting an amber, neutral bar, showing us that the “Go” trend has for now, ended.
At the same time, the move has caused the GoNoGo Oscillator to crash below the zero line, signaling that momentum has not just cooled, it has turned against the technology services company.
CSCO bullish move before earningsUpcoming Events:
Earnings Aug 12 after market close
Overview:
CSCO is apart of S&P 500 Index. The index is currently closing the gap from Feb. Closing this gap could lead to greater than normal moves to upside or downside
CSCO appears to have established a short term range and is showing bullish signs of breaking that range
Entry:
Target price: 47.67
RSI >50
Volume cross average
Stop Loss:
Previous day candle low 47.04
Target Profits (Scale out):
Based on previous resistance points
1st 48.27
2nd 48.89
3rd 49.53
Cisco Looks Short- Intermediate- and Long-Term BearishSomeone I respect posted a bullish interpretation of Cisco Systems recently, so I decided to take a look at it. And I cannot confirm that. What I see on the daily is a rising wedge from the March lows, which has broken and is flagging. This looks near-term bearish to me.
On the weekly, I see a possible head and shoulders, also bearish.
And zooming way back out, I see an interesting pattern here. The spike ending in the 90s is a full 5-wave Elliott Wave impulsive structure. From that point, much like I believe gold is doing, it is creating a corrective flat. From a classical chart pattern perspective, the whole structure is a symmetrical triangle, but we can expect this to move down, breaking below.
This is no time to be bullish.