CSCO reported and blew out earnings after the close yesterday. The modus operandi for reporting tech companies has been to sell the news even if it is good. The latest after hours quote has CSCO opening up to $23.86 or still below the 20 & 50 day moving averages as well as below the 50% Fib retracement of the 3 year high and March low.
It appears to me to be another "Crazy Ivan" setup back to upard resistance around $24. Looking to get short above $24 as the excuberance wains in the morning with a stop set at the recent highs of $25.10
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