CISCO SYSTEMS INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 47.70 |
| Take Profit | 46.20 |
| Stop Loss | 48.20 |
| Key Levels | 46.00, 47.70, 48.00, 48.30, 49.10, 51.00, 52.40 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 49.10 |
| Take Profit | 52.40 |
| Stop Loss | 48.20 |
| Key Levels | 46.00, 47.70, 48.00, 48.30, 49.10, 51.00, 52.40 |
Shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are trading at 48.30.
On the daily chart, the price is correcting within the global sideways channel 51.00–47.70.
On the four-hour chart, the downward potential remains, as the quotes are near the channel support line at 48.00. The current target is last week’s low of 47.70, which the asset has tested unsuccessfully several times, and if broken, a decline to the mid-November low of 46.00 is expected.
Technical indicators are holding a sell signal: fast EMA on the Alligator indicator are below the signal line, and the AO histogram is forming corrective bars in the sell zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 47.70, with the target at 46.20. Stop loss – 48.20. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 49.10, with the target at 52.40. Stop loss is 48.20.
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