last post on CSCO: https://bartscharts.com/2021/03/28/csco-follow-up-and-important-level/
note the BIG polarity principle shown from the dashed red and green horizontal lines .. waiting for a daily or weekly close below 50.32 is probably the most conservative play …
also, note that the support at 51.42 is the AB=CD level and is holding as support
last, while the AB=CD was taken out most/all the ratios hels in the zone of 51.42-52.92.
an interesting pattern w/ big ramifications upcoming …
last post on CSCO: https://bartscharts.com/2016/03/14/go-ahead-and-hate-csco-appears-ready-to-breakout-and-outperform/ was 5 years ago. crazy how time flies.
checking in on CSCO we are at a VERY important point as CSCO is showing the completion of a near perfect SELL SIGNAL but due to thrust, if the pattern works, would wait for a signal reversal candle below 50.
if the pattern fails then, it’s quite possible that we have begun the parabolic leg up the opposite side of the mirror image foldback. it sure has tome thrust fueling its rise so this pattern is REALLY important for the Bulls/Bears.
also, one last, if you take your AB as the all time low to the all time high and then project .618 that length from 8 dollars you smack right into the last high in/around 58.
the 50’s … appear really important for CSCO
tomorrow is either a “gap and gone” higher or a “big stiff wall of resistance” for any further advance ….
Bart
