CSCO rises to highest close since October 20, 2000
Cisco Systems Inc. (CSCO) Technical Analysis Report for Apr 16, 2019 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, CSCO ended Tuesday at 56.95 gaining $0.39 (0.69%), slightly outperforming the Nasdaq 100 (0.34%). Today's close at 56.95 marks the highest recorded closing price since October 20, 2000.
Daily Candlestick Chart (CSCO as at Apr 16, 2019):
Tuesday's trading range has been $0.91 (1.61%), that's above the last trading month's daily average range of $0.73. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for CSCO.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Gap Up" stand out. Its common bullish interpretation has been confirmed for Cisco Systems. Out of 115 times, CSCO closed higher 57.39% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 60.87% with an average market move of 0.33%.