Need to see if price can hold above 62.39-63.98
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(CSCO 12M chart)
The most important area on the CSCO chart is around 42.85.
Therefore, if it falls to around 42.85 and shows support, you should check if there is a strong buying trend.
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(1M chart)
It is showing a stepwise upward trend while rising on the HA-High indicator.
Therefore, the start of the decline is likely to start when it shows resistance on the HA-High indicator.
Therefore, if it falls in the 53.38-58.42 range, it is likely to fall to around 42.85.
If the decline continues, you should check if the HA-Low indicator is newly created.
If it shows support near the HA-Low indicator, it is likely to be a buying period.
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(1D chart)
There is no way to know how far the price will rise.
However, it is only expected based on the Fibonacci ratio.
Since it has risen above Fibonacci 0.618 (62.96), the next target is expected to be around 1 (94.26).
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We can find the time to respond by referring to the indicator indicating the high point and modify the detailed trading strategy accordingly.
The indicators indicating the high point include DOM (60), StochRSI 80, and HA-High.
Among them, the indicator used in the basic trading strategy is the HA-High indicator.
The basic trading strategy is to buy near the HA-Low indicator and sell near the HA-High indicator.
However, if it is supported by the HA-High indicator and rises, it is likely to show a stepwise upward trend, and if it is resisted by the HA-Low indicator and falls, it is likely to show a stepwise downward trend.
Therefore, the trading method should be a split trading method.
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You can predict the trend based on the arrangement of the M-Signal indicators on the 1D, 1W, and 1M charts used in the trend perspective and the price position.
Accordingly, if the price is maintained above the 62.39-63.98 range, there is a high possibility that the upward trend will continue.
If not, there is a possibility that it will fall to the vicinity of 58.42 or the M-Signal indicator on the 1M chart.
If the OBV indicator falls below the High Line or the Low Line, the price is likely to show a downward trend.
Therefore, you should check at what point the support test is performed.
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It is difficult to grasp the flow in real time for stocks that are renewing the ATH.
However, I think that by using indicators that indicate the high point, you can have some time to respond.
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Thank you for reading to the end.
I hope you have a successful transaction.
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