Trading idea for Cisco Systems, Inc. (NASDAQ)

Cisco Systems, Inc. (NASDAQ)

#CSCO

The trend is upward. A truncated bearish wave pattern concluded with a breakout of the trend channel. The stock is trading between the 365 EMA and the 135 EMA. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy on a breakout above 112.15.

Stop Loss: 109.20.

Target levels: 116.20; 120.00.