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​CSCO – time for short positions?

In November-December last year, I introduced an entire set of reviews on securities, regarding which a well-known head-and-shoulders pattern may look different from a classic one. It is time we look at the points where the patterns reversed trends and the points where they are reflected impacted by the Hound of the Baskervilles effect.

Notably, among those securities were CSCO shares. After breaking out of the head’s peak, the gauge is moving under the influence of the Hound of the Baskervilles effect and is approaching USD 33.55, its full implementation point. Here securities may reach a 2007 high, the highest point since 2000. So investors could be advised, if not to open short positions near USD 33.55, then to seriously consider profit taking.