Cisco, fresh sell signal making lower lows
Cisco drops 7.7% as a fresh sell signal opens making lower lows
Cisco, fresh sell signal making lower lows
Our view last week
Cisco Systems closes the week with a 7.6% surge and a sharp swing in buying participation: 97% of trading volume was on the buy side, after weeks led by sellers. In this swing trading setup the price is rebounding off a double bottom in the 112 area, but the MACD histogram and money flow point to a narrower push than the surge suggests. The stock now sits boxed between the 120 and 122 areas.
This week's summary
Cisco's stock closed the week down 7.7%, but the final session had already carved out a double bottom in the 109 area with a 13% rebound. In our weekly technical analysis, the fresh sell signal that just triggered puts Cisco 7th among 140 US sell signals, with a signal strength of 100 out of 100 reading a decline starting to make lower lows. The stock is still 68.4% above its 200-week average, though, and our model flags trading as not recommended.
IQS Phase
45
ordinary
Signal Strength
100
decline starting to make lower lows
Sizing
STANDARD
Ranking
#7 / 140
New us stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content