Just like Amazon (AMZN) that I wrote about here:   https://evancarthey.com/amazon-amzn-prime-quick-short/ Cisco (CSCO) is looking like a quick short could be happening soon due to a gap but it isn’t quite ready just yet.

Let’s look at the charts

1. Price is near the 423% fib extension from the pivot points
2. Price is still within the Andrew’s Pitchfork
3. Wait for price to close below AP before going short
4. The bottom of the gray box is an exit which is the 50% fib retracement around $35,00.

Another pivot point in play

1. Price is coming up and hitting the bottom of the AP line from the other pivot point
2. The exit for this move is the bottom of the 2nd gray box around $31.00

Another GAP!

1. Cisco (CSCO) is another chart with another gap
2. The lower end of the box is around $34.30
3. Why I love gaps: https://bioequity.org/2013/11/13/statistics-do-stock-price-gaps-always-get-filled/

Conclusion

A quick short is developing.  To be safe I would wait until price closed below the AP from the 1st chart to confirm the downside has some momentum.  You could have your exit at either the low of the 1st gray box or the low of the gap.  The low of the 2nd gray box is also a consideration and will get there eventually but the other two boxes are the shorter term plays for exits.