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Cisco systems has earnings coming up. Analysts expectations are low, and the last earnings report right before the COVID dump was bullish, so perhaps a beat here could give us a push to the upside.
That said, the overall trend is down, so from a TA perspective on a longer timeframe expectations are low.
The question here is, "can earnings help keep CSCO afloat, or is it back down along the trend this behemoth?" Let's do an analysis.
1. Fractal Trend is signaling a downtrend (Maroon bar color) on higher time frames. Sure, CSCO has had a solid recovery from the bottom, and earnings could send this higher and have us eying longs, but the overall trend is still bearish so we are looking for a short.
2. With the strategy, we allow short setups in a downtrend with our entry being the retest of a previous S/R that has flipped and been validated by Directional Bias OR an orderblock plotted by Orderblock Mapping.
3. If we move to the upside, we will be looking for a retest of R1 and a pullback to open a short position with targets of S1 and S2.
4. To the downside we will be looking at the S1 & S2 orderblocks for reactions.
5. The general hope here is to see momentum from earnings set us up for a great short entry at the R1 S/R flip.
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