CSCOs revival

A look at the weekly and daily chart of CSCO :

  • On the weekly basis we still have to lower lows and lower highs pattern
  • I see however a longer base (longer would be better)
  • A reversal candle mid april gives some confidence
  • On a daily basis I see a break of the resistance level, also the break of the 50d MA.
  • Next resistance is at the beginning of April high (18.25)
  • If you are in, increase your stop loss to 17.5
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