CSCO Short - B wave formingWatch CSCO as it continues to drop on the B wave. Look for a target of $50.50. Consider buying options 2 Fridays out one this is confirmed.
Cscoshort
Cis-going lower> Cisco Systems
Short Term
We look to Sell at 45.43 (stop at 46.50)
Preferred trade is to sell into rallies. The medium term bias remains bearish. Bespoke resistance is located at 45.50. We continue to expect further gains to be limited and look to set shorts for a further drive lower within the channel.
Our profit targets will be 41.41 and 38.10
Resistance: 45.50 / 50.00 / 62.50
Support: 41.00 / 36.50 / 30.00
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