Cisco Systems Inc.: technical analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 53.20 |
| Take Profit | 56.20 |
| Stop Loss | 52.00 |
| Key Levels | 49.60, 51.00, 51.50, 52.50, 53.30, 54.00, 56.20, 57.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 52.00 |
| Take Profit | 49.60 |
| Stop Loss | 53.00 |
| Key Levels | 49.60, 51.00, 51.50, 52.50, 53.30, 54.00, 56.20, 57.00 |
Shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are trading at 52.50.
On the daily chart, the price is trying to leave the ascending Triangle pattern with dynamically narrowing boundaries of 54.00–51.50.
On the four-hour chart, the quotes have consolidated above the previous high of 51.00, confirming the likelihood of further growth. In addition, the asset is near the year’s high of 53.30, consolidation above which will allow it to reach the 57.00 region.
Technical indicators have given a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming correction bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 53.20, with the target at 56.20. Stop loss is around 52.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 52.00, with the target at 49.60. Stop loss is 53.00.
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