$CSCO has been putting in higher lows on the weekly and after the earnings miss, it’s approaching a very very important SELL PATTERN at 28.09. (it could also surge up to the .786 at 28.70.
simply, for the bullish move to continue, this pattern needs to FAIL. If it does not fail, then CSCO will more than likely target the low 20’s and we’ll take a look at after this pattern either works or doesn’t.
what’s great …? NO IDEA and DO NOT CARE which way it goes. IT’S JUST A PATTERN and and edge to manage risk.