Cisco acts good after it built nice H&S pattern with series of higher lows and upper level consolidation which was broken on earnings with powerful gap up. then it took couple of days to absorb this big move, held and continued higher. Well-defined support at $24.40 and break up of triangle gave us another nice and calm trade as 8 EMA controlled and followed price nicely. Yesterday, it accelerated as we had good reports from Intel. Some kind of pullback and digestion makes sence. Other major cap tech companies also feels strong, $MSFT broke its consolidation with powerful, ignited, bull candle.
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Check my thoughts about CSCO and other ideas in major cap tech stocks in the links below.
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Check my thoughts about CSCO and other ideas in major cap tech stocks in the links below.
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