Thread by @malteseinvest

Analysis: #Cboe BZX $CSCO

Case 61 #Cisco Systems Inc

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

Thread 👇👇👇

#CSCO 1/8

Cisco recovery appears to have stalled and sellers have taken control of the short and medium term but the long term is still bullish.

CSCO 2/8

Chart 1
Monthly Chart: The steady climb up has been stopped dead in its tracks at monthly #pivot resistance 56.94. Price has broken and closed below the #SMA 20 and the 2 year .....

CSCO 3/8

.... #trendline. A strong support zone 40.11-37.37 exists , SMA 50 @ 38.58 with stronger support around 33.00.

CSCO 4/8

Chart 2
Weekly Chart: The SMAs 20 and 50 have turned negative and buyer's upside thrusts were thwarted. Notice the big weekly bar smashing through the 2 year trendline #support. .....

CSCO 5/8

.... Demand appear weak and buyers currently wait at the support zone, SMA 200 is also located there.

CSCO 6/8

Chart 3
Daily Chart: Two unfilled gaps have formed and there's a #confluence of #resistance: weekly pivot and SMA 200.

CSCO 7/8

Chart 4
Weekly Chart: The #Strategy is printed on the image.

Take heed of the "Note". And if the Buy recommendation is triggered first, the second recommended Sell might also come under scrutiny.

An update with further instructions will appear in the near future.

$CSCO 8/8