Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Cisco Systems’ stock (CSCO) rose in the intraday levels, amid the dominance of the downward medium-term trend, with negative pressure from the 50-day SMA, while recouping some recent losses, as it also vented off oversold saturation in the RSI.
Therefore we expect the stock to return lower, targeting the pivotal support of $45.56, provided it settles below the resistance of $47.66.
Trend forecast: Likely Bearish