CSCO - Horizontal Trend Channel

- CSCO is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction.
- CSCO has broken an inverse head and shoulders formation.
- A decisive break of the neckline at approximately 50 will signal a further rise to 64 or more.
- It also gave positive signal from the rectangle formation at the break up through the resistance at 49.
- Further rise to 52 or more is signaled.
- The stock has broken up through resistance at 50.
- In case of negative reactions, there will now resistance be support at 50.
- Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the stock.
- Overall assessed as technically positive for the medium long term.

*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price

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