Can a Classic Chart Pattern Propel Cisco Systems Stock to the Upside?

Cisco Systems, Inc. (CSCO) was last reviewed in the middle of April where I commented that, "While CSCO has made two downside corrections since the beginning of 2018, it looks capable of setting new highs in the near-term. If you can afford to risk below $40, trade from the long side looking for a rally to the $48.77 to $50 area."

Checking out the charts this morning (below), I can see that over the past two months that CSCO rallied to just short of our target area before pulling back to a higher low. The price pattern looking back to February looks like a large ascending triangle formation....380 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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