CSCO Pausing Prior to Resumption of Strength?
One of the most powerful up moves of any name recently has been Cisco Systems, Inc. (CSCO).
From a P&F perspective CSCO exhibits a well-defined major up trendline that cuts across the price axis at 19.45.
As long as 19.45 (19.44 print) contains any additional forthcoming weakness, the bull move in CSCO will remain the dominant influence on price direction.
All of the action off of the recent high print at 20.05 represents a pullback ahead of a resumption of strength that should propel CSCO to 20.40/50 next.
From an extreme near-term P&F perspective, CSCO must print at 19.75 to trigger a new up-column of blue X's.From an extreme near-term P&F perspective, CSCO must print at 19.75 to trigger a new up-column of blue X's.From an extreme near-term P&F perspective, CSCO must print at 19.75 to trigger a new up-column of blue X's.
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