$CSCO Can Go Either Way
Updated
CSCO is currently forming a double inside day.If price goes above previous daily high of $49.15, profit target is $49.65 and then $50.04.
If price goes below previous daily low of $48.26, profit target is the 0.618 mark in the middle of the gap at $46.99.
Potential Options Contracts:
Calls
50c 9/20 @ $0.25 | Vol. 529, OI. 23,104
50c 10/18 @ $0.65 | Vol. 584, OI. 16,867
Puts
48p 9/20 @ $0.34 | Vol. 139, OI. 8,470
47.5p 10/18 @ $0.73 | Vol. 510, OI. 7,020
Comment
CSCO faked us out when it started Wednesday 9/11 by going below the previous day low on Tues, 9/10 and then shot up post 11am on Wednesday, 9/11.
Brief analysis below:
Trade closed: target reached
Both targets hit at 49.65 and 50.04.🎯🎯
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