• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Cisco Takes the Lead with a Classic Bullish Continuation Pattern
Stock

Cisco Takes the Lead with a Classic Bullish Continuation Pattern

by July 24, 2023
by July 24, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Cisco (CSCO) is showing leadership qualities again as it breaks out of a classic bullish continuation pattern and hits a new high.

The chart below shows CSCO forming a cup-with-handle pattern, which was popularized by William O’Neil of IBD. This is a bullish continuation pattern, which means the prior move was up. Indeed, CSCO advanced from the upper 30s in October to the lower 50s in early April (+35%).

The stock hit resistance in the 52.5 area from April to July (red line). Between these resistance points, the stock dipped into April-May and formed the cup portion of the pattern. The handle formed from mid June to mid July and the stock broke rim resistance with a surge the last few days.

Overall, the cup-with-handle pattern represents a consolidation or rest within a bigger uptrend. The breakout signals an end to this consolidation and a resumption of the bigger uptrend. The lows in mid-June and mid-July mark the first support level (green line).

The short blue line on the right shows the ATR Trailing Stop for reference. 3.5 is the ATR multiplier and this value affects the distance from price. I chose this value so the stop would start just below the mid-June and mid-July lows (support). The stop will rise if prices continue to rise.  

TrendInvestorPro is currently running two quantified strategies. First, we have a momentum-rotation strategy trading S&P 500 and Nasdaq 100 stocks. Second, we have a short-term mean-reversion strategy trading Russell 1000 stocks. These strategies are outlined with detailed reports and performance metrics. Click here for immediate access.  

The ATR Trailing Stop, Trend Composite, Momentum Composite and eight other indicators are part of the TrendInvestorPro Indicator Edge Plugin for StockCharts ACP. Click here to take your analysis process to the next level.

—————————————

You Might Also Like
  • Dancing with the Market
  • Bears Are Waking Up to the Fact They’ve Missed Out; Here’s What’s Next
  • BEER Stocks: Own What You Know
  • DP Trading Room: Key Support Levels for the SPY
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Texas Gov Abbott swipes Biden in latest war of words over border security, impending DOJ lawsuit
next post
Now That The July 6-Month Calendar Range is Set

You may also like

Is Market Breadth Signaling THE TOP?!

April 16, 2024

Mastering GoNoGo Charting: Scanning Securities on StockCharts.com

June 28, 2024

Buy the Dips!

July 8, 2023

Missed Out on Micron’s 112% Surge? Here’s Your Second Chance!

March 15, 2024

These 4 Chinese Stocks are Worth a Look

October 2, 2024

S&P 500 Rises From Bearish to Neutral, But Will It...

April 25, 2025

Called It! The Drop in AAPL Before the Bell

September 11, 2023

Top Ten Charts to Watch for October 2024

September 27, 2024

BITCOIN Rally Picks Up Steam, What’s Next?

February 27, 2024

Unlocking Insights: Your Top Questions Answered! Q&A with Dave

August 18, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    CAUTION ADVISED Ahead of This Week’s...

    August 12, 2024

    Market Wisdom from the Godfather of...

    January 31, 2024

    Magnificent 7 Stocks: Overheated or Just...

    January 27, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here