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Cisco Systems Inc (CSCO) “On a long-term technical basis, the stock (CSCO) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 45.84 and 40.92. If the stock breaks down through support at 45.84 then it will probably continue lower to 40.92. The stock has resistance at 48.29 and at 58.31. If the stock breaks up through resistance at 48.29 then it will probably continue higher to 58.31. The 200-day moving average is at 45.03. This will also act as support. 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 45.84 look for a rally to previous highs. The stock is neutral according to the Stochastic Indicator (39.55).”
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