CSCO has complete its larger 3-wave structure (ABC) after a strong rebound at 123.6% Fib expansion of wave A-B. In this structure, it shows a possible end to a corrective larger 4th wave and currently, we are on the 5th wave. From breaking out of the falling wedge/flag formation and staying above 62.00, the stock remain strong on the upside. Momentum indicator suggest strong bullish momentum and as such, we are aiming US$70.16 for the mid-term for CISCO.
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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.