$CSCO Faked Breakdown!

13 Sep

CSCO had two back-to-back inside days 9/9 and 9/10 and on 9/11 broke the previous day low (9/10) but was a fake breakdown and began to shoot up after 11:00am.

You're currently viewing CSCO on the 65minute chart.
There are 6 bars per day on a 65m chart.

The stock is up 3.74% since Wednesday, 9/11 @ 11:00am.

I didn't take the trade but the calls are up from my previous CSCO post:
https://www.tradingview.com/chart/CSCO/d4tEd7zF-CSCO-Can-Go-Either-Way/

CSCO 50c 9/20 (0.25 -> 0.37) +48%
CSCO 50c 10/18 (0.65 -> 0.90) +39%

Price can either consolidate around the 0.28 fib, go higher to $50 or retrace back to 0.382 fib.