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Cisco Systems Inc (CSCO) “On a long-term technical basis, the stock (CSCO) is trading below its 200-day moving average which generally implies it is in a negative trend.
The stock has support at 37.60 and 32.40. If the stock breaks down through support at 37.60 then it will probably continue lower to 32.40. The stock has resistance at 39.42 and at 42.49. If the stock breaks up through resistance at 39.42 then it will probably continue higher to 42.49. The 200-day moving average is at 43.89. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 37.60 look for a rally to previous highs. The stock is slightly oversold according to the Stochastic Indicator (28.13).”
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