Cisco Trading Analysis (16/01/2024)

The trend is ascending. The upward wave structure is truncated. The stock is traded in the range between 365 and 135 ЕМА. The Stochastic Oscillator signals the oversold state.



Trading idea:

Sell at the formation of the descending wave structure, where the wave A breaches the 50.02 (pivot 2 of the wave С).

Stop-Loss at 50.80.

Target price levels at 48.80 and 47.64.

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