Possible divergence?Improving RSI. Biggest trade today was a STO of the Jan'16 $18 Ps. Monthly 21/22s active. Bullish article yesterday from Schaeffer's as well. Long some LEAPs already. On watch to add more. Link: www.schaeffersresearch.com
CIS trade ideas
Cisco - Possible uptrend resumeCisco Systems has been in a strong uptrend for a long time, completing a five wave formation. Last months we can see an abc correction till the 38.2% fib, around the 200 day moving average.
If we look closely at the top (at wave 5), and look closely at the recent bottom (at wave c), we can see a perfect simetry, a double divergence.
Red lines represent strong support and resistance from the weekly charts. Close support is the blue line.
First target is at the 61.8% fib retracement from the top, and the second target is the actual top.
Remember, this trade is relative to the earnings report and the price action preceding it. If the report comes out good and there is no gap or strong bullish price action, i would be really reluctant toward this trade.
For now the trade is in stand by, waiting for confirmation
Cisco Potential Recovery AheadCisco shares breaking higher, as price may be heading to resume the overall long term bullish trend. After testing its main ascending trend line, price has broken a classic falling wedge bullish pattern, key horizontal resistance around 23.40, 23.40 is also a neckline for Adam and eve double bottom pattern. Targets and technical notes outlined on chart.
CSCOBullish divergence all over the map. But be aware of the gap fill target at 21.40. Trendline support area was participated by longs, but we do need to see it close above the down trend line. Earnings coming up in a few weeks, I would expect a run up to 23.68 then 25.96 after earnings comes out.
CSCOVol has been decreasing during minor UT. Eyes on FOMC. 200MA Rejection. Top of Falling Wedge. Remain bearish
CSCORemain Bearish here. Bullish Harami will fail under pressure. Below all key MA's, Stoch working off.
I say bullish, waiting for signals. Waiting tomorrow to seeEverything is written in chart, so that it is easier for you to understand my toughs
CISCO : On the way up guided by mini median lineBeauty of lines encapsulating market flow and defining market structure.
Sliding Target Profit 1 will meet first resistance of upsloping purple Sliding Parallel. Overall trend is up.
CSCOnotes on chart. Very nice Descending Triangle BO on Monthly, but nearing an important resistance area
We will suggest Bullish Call for August We will suggest Bullish Call for August if the daily candle close above the triangle
Earnings Watch.$CSCO. Sorrily priced with such deep and rich potential. Get to know how it responds to the uptrending market. Nobody really seems to care and I am thinking maybe they should start doing proper homework. Sincerely, Beauty - Please follow me on twitter @BeautyBubble and here on TradingView
