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Cisco Systems Inc., Murrey Analysis

10/28/2022 3:01 PM

Shares of Cisco Systems Inc., the largest manufacturer and network equipment supplier for holdings and telecommunications companies, are moving within a long-term downtrend but are currently making active attempts to reverse it.

In the middle of this month, the price reversed from 39.06 ([1/8]), moved into the positive part of the Murrey trading range, and is currently close to the upper limit of the central channel 45.31 ([5/8]), consolidation above which will give the prospect of further growth to levels 46.88 ([6/8]) and 50.00 ([8/8]). The key “bearish” region is the support zone 42.19–41.60 ([3/8], the middle line of Bollinger bands). Its breakdown allows a decline to 39.06 ([1/8]) and 37.50 ([0/8]).

Technical indicators do not give a single signal: Bollinger bands are reversing upwards, MACD is increasing in the positive zone, but Stochastic may leave the overbought zone soon and form a sell signal.

Resistance levels: 45.31, 46.88, 50.00. | Support levels: 41.60, 39.06, 37.50.

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