A few weeks ago I talked about how Cisco Systems, Inc. (CSCO) can be a stock play on the January effect. The stock has been moving in a slow and choppy fashion not doing too much that would be considered exciting.
Yet, I am seeing another set up in shares here through $19.75-$19.85. I think we could see a move over $20.00 into the new year. I think there is limited risk in this trade but it can be a nice play for traders. I would place my stop at $19.20.
Continue reading for the chart setup…
*DISCLOSURE: Long CSCO
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