CSCO trade ideas
Presuming to kill
The harm of subjective transaction
Self-analysis of trading also deserves special mention. One stupid mistake leads to another stupid mistake and it becomes a vicious circle. At this point, the trader learns to let go. Subjective traders in particular should let go. Subjective decisions are more likely to be negatively affected by emotions. Sometimes traders feel trapped. When that happens (not "if"), it's best to suspend trading. Remember, there will be trading opportunities next month, next quarter, next year.
The Importance of Confidence
My experience is financial trading like a professional sport. Professional sports players are open and honest about their commitment. How many times have you heard statements like, "This athlete is in great shape," "he has great confidence," "He is too nervous on the court"?
Maybe you've considered all the possible scenarios in your trading plan, but you still have doubts and you still don't have confidence, so you don't trust the system completely. Cancer and heart disease are the two biggest killers of American health, and doubt and hesitation are the two biggest killers of sound trading plans.
CSCOIt has crossed the shaded area as shown on the chart. The targets are from it, we enter a correction to its maximum limits. It is clear on the chart, including a bullish wave. The analysis cancels when the third area is broken by closing a 3-hour candle below it or closing above the third target, an hourly candle.
Cisco Selloff Incoming? Cisco Systems
Short Term - We look to Sell a break of 53.44 (stop at 54.96)
There was little net movement as we continue to consolidate within the 54.00 - 57.00 range. Mild losses have been posted and our bias turns to the downside. We look for losses to be extended today. Further downside is expected, however, due to the strong support below we prefer to sell a break of 53.44, which will confirm the bearish sentiment.
Our profit targets will be 48.49 and 44.77
Resistance: 57.00 / 60.00 / 70.00
Support: 54.00 / 50.00 / 48.00
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$CSCOTech sector. Has been ranging for a while (Orange lines) no home run but a small $1 or $2 move potentially depending on time.
Mac D on bottom side. Could be losing downward selling pressure. 50% to 100% previous Fib target!
What do you think?
Working towards becoming a full time trader one day. Dying to Live!
Not Advice!
CSCO technicals show more downside aheadA symmetrical triangle pattern appears on the daily and intraday charts. Generally, price activity within this pattern should contract as price forms lower highs and higher lows. Symmetrical triangle patterns do not suggest a breakout direction, so other technical evidence must be considered.
In this case, CSCO is snug against the lower trendline of the pattern. While this is an uptrendline, the upper trendline converging downward reveals that the pattern is contracting / consolidative.
Momentum indicators shown include RSI and the Chande momentum oscillator. Both are bearish. RSI has struggled to make any progress above the 50 level. And Chande as of March 10 is below the zero level and sloped downward.
CSCO is trading below its 200 SMA, 21 EMA, 34 EMA, and 50 SMA on the daily chart. And those moving averages are sloped and stacked in a bearish direction.
A reasonable target might be around 49-50 over the coming weeks (perhaps as soon as days if the general indices experience another flush). To derive this target, project downward the maximum depth of the pattern from the anticipated breakout point. This leads to a downside target of 49-51 depending on the day the breakout occurs.
Caveat: if the markets and SOX index start to recover decisively, consider an upside breakout a possibility, with a similar projected target near 60. But given the technicals, the probability of an upside breakout seems low.
$CSCOCyber Security at its finest. With all the news of Russian cyber attacks look for smart money to be pushed in this direction.
CHART LEGEND:
white dashed lines = bull/bear takeovers
blue lines = call targets
yellow lines = put targets
red line = danger zone
orange lines = trend lines
green lines = safe zone
any other lines add will be discussed with the ticker
NASDAQ:CSCO