Cisco Systems Inc. - potential setupsNASDAQ:CSCO
The shares of Cisco Systems Inc., the largest manufacturer and network equipment supplier for large holdings and telecommunications companies, are correcting around 46.00.
On the daily chart, trading is observed in the global downward channel with dynamic boundaries 36.00–46.00, and the price is currently testing its resistance line.
The four-hour chart shows that the quotes have overcome the initial Fibonacci 23.6% retracement at 46.00, coinciding with the end of the price gap from May 19, which has not yet been closed. Given the current trend, the price may reach the beginning of this gap at around 47.80 already this week.
Technical indicators keep a stable buy signal: indicator Alligator’s EMA oscillation range expands upwards, and the histogram of the AO oscillator forms upward bars in the buying zone.
Trading tips
🟢 Long positions may be opened after the price rises and consolidates above 47.80 with the target at 52.40. Stop loss — 46.00. Implementation period: 7 days or more.
🔴 Short positions may be opened after a reversal, reduction, and consolidation of the price below 46.30 with the target at 43.00. Stop loss — 48.00.
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⚠️ Important Notes:
1. Always follow your trading plan regarding entry, risk management, and trade management. ❗️❗️❗️
2. Timeframes: up to 1D
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