$CSCO approaching trendline resistance zone. Short opportunity

$CSCO Approaching major trendline resistance. A great short setup at $53 with a profit target of $48.31, which meets long term support and is a partial gap fill.

Usually with gaps, there will be a partial (mid-way) gap fill on the first attempt, then a snap back rally, consolidation and at some later point a complete gap fill.

This $CSCO opportunity is a great low risk high reward setup, with a stop just above the trendline resistance zone. I've added the short setup to the chart.

Cheers.

Trade aktif