Cisco Systems, Inc.Short
Bad Times Ahead for CSCO
Weekly Charts of CSCO
A-B-C Corrective Wave formation after 1-2-3-4-5 Motive Wave is complete. The Corrective Wave reached 78.6 percent retracement of the Motive Wave.
After completion of the Corrective Wave, CSCO made a large gap down on 21 September. Subsequently, it made two unsuccessful efforts to fill the gap.
CSCO is now testing a resistance level and will go down further for several weeks, if not more.
A-B-C Corrective Wave formation after 1-2-3-4-5 Motive Wave is complete. The Corrective Wave reached 78.6 percent retracement of the Motive Wave.
After completion of the Corrective Wave, CSCO made a large gap down on 21 September. Subsequently, it made two unsuccessful efforts to fill the gap.
CSCO is now testing a resistance level and will go down further for several weeks, if not more.
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