Discussion in 'Technical Analysis' started by ZZZzzzzzzz, Jul 14, 2005.
Broadening Formations and Right Angle and Descending
I loaded the boat at 18.95 for a swing trade looking at it a little different. Took off 1/3 at 19.50, and a bit more this morning at 20. Gonna try and hold but will make it the full 2nd 3rd(boy that seems confusing) if it comes back to 19. WE'll see on the rest.
I took profits at 20.02 on a limit order I had in before the market opened.
I am guessing we see a bunch of volume in both the $20.00 puts and calls for July expiration (tomorrow).
Interesting chart pattern, and fundamentally business is good for CSCO.
Good luck on your trades!
Perhaps the weekly "Bullish Engulfing" pattern is a good allied.
But pay attention to weekly 200EMA
Very interesting, I thought that it was going to breakdown last week, but it seems that the broad market rally saved it. Fortunately, I covered my short first thing Monday morning. I think there is too large of an open interest in the 20 strike for this to rise above that level tommorrow. It got smacked down pretty good on the gap up this morning.
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