go ahead and hate … CSCO appears ready to breakout and outperform

03/14/2016 – update

the move down to 16 did not materialize but do believe the Mirror Image Foldback is still working. Put this one on the radar screen as it appears to be getting ready to blow. An update chart below:

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PUT THIS ONE ON THE RADAR SCREEN ….

now, look at these relative strength charts of CSCO vs FB/GOOGL/AAPL/AMZN

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believe it or not … the glamour names certainly look to be under pressure from CSCO and it “should” start to outperform on a relative strength basis. With this type of underlying strength, watch for the breakout noted above.

Let me know if you have any questions.

B



 

 

a move down to 16 would be a NICE place to BUY for a potential foldback as shown ...KABOOM (?)
a move down to 16 would be a NICE place to BUY for a potential foldback as shown …KABOOM (?)

$CSCO

$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.

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