Fundamentally, CSCO is good to go. Why I don’t like it now is because of what I see on its long-term technicals. It had a blow-off top (end of wave 5). Then blow through major trend lines and moving averages, etc in waves A and B. We’re likely early on into wave C with much more downside to come. It could go to the end of any one of these three yellow arrows. So, it’s good enough to be on a watch list, but not good enough yet to be ready to pull the trigger on. Wave C’s decline would have to be further underway before it would interest me. Great company though. Great fundamentals. Cheap fundamentals. Good dividend.
Reply To: CSCOSean Hyman2020-11-06T14:31:30-06:00