Neutral - Watching Pennant/Triangle Consolidation Pattern

Cisco Systems, Inc. (BATS:CSCO)

Uppdaterad

BATS:CSCO Cisco Systems, Inc.

pennant triangle long-term consolidation pennantpattern symmetricaltriangle

Cisco is having trouble getting past the high from the tech bubble at the turn of the century. Keeping an eye on this chart pattern that has formed as it consolidates (may take several more years to play out). I won't short if it breaks down, but I'm watching for a potential upward breakout to trade on (looking for a decisive monthly close above the green tend line ideally with significant volume).

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Intel may provide a warning for this stock (not sure how correlated they are) as it also struggled to break significantly above its tech bubble high and eventually broke down before finding support around its 200-Month EMA.

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