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Cisco Systems Inc., Technical Analysis

9/21/2022 11:24 AM

The shares of Cisco Systems Inc., the largest manufacturer and network equipment supplier for large holdings and telecommunications companies, are correcting at 42.50.

On the daily chart of the asset, the price left the ascending channel with dynamic boundaries 45.00–52.00, broke the support line at 45.00 last week, and confidently consolidated below it.

The four-hour chart shows that the potential for the further decline is very high, and the price may reach a year's low at 40.80 soon.

Technical indicators reinforce a stable sell signal: the Alligator indicator's EMA oscillation range expands downwards, while the histogram of the AO oscillator decreases and forms downward bars in the sell zone.

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