Category: Forex News, News
Cisco price rises cautiously – Forecast today
Cisco Systems’ stock price extended the gains in latest intraday levels, boosted by positive signals from the Stochastic, however, it reached overbought levels, indicating the weakness of that positive momentum, especially amid the dominance of the downward correctional trend in the short term, with negative pressure due to trading below the 50-day SMA.
Therefore we expect the price to decline and target the support of $52.00, provided the resistance of $58.45 holds on.
Today’s price forecast: Bearish
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Written by : Editorial team of BIPNs
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