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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 40.49 and 36.95. If the stock breaks down through support at 40.49 then it will probably continue lower to 36.95. The stock has resistance at 43.63 and at 47.20. If the stock breaks up through resistance at 43.63 then it will probably continue higher to 47.20. The 200-day moving average is at 44.40. 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 40.49 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (8.45).”
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