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Cisco Systems Inc., Murrey Analysis

12/1/2022 2:57 PM

The shares of Cisco Systems Inc., an American manufacturer and network equipment supplier for large holdings and telecommunications companies, have been growing since mid-October. During this time, the price reversed around 39.06 ([1/8]), moved into the positive zone of Murrey's trading range, and yesterday rose to the upper limit of the trading range against the backdrop of confirmation by the head of the US Federal Reserve, Jerome Powell, that the growth of interest rates is likely to slow down. The key "bullish" level is 50.00 ([8/8]). Its breakdown will give the prospect of further growth to 51.56 ([+1/8]) and 53.12 ([+2/8]). The most important for the "bears" seems to be the support zone 46.88–46.05 ([6/8], the middle line of Bollinger bands), consolidation quotes below which may cause a change in trend and a decrease to the central mark of Murrey's trading range 43.75 ([4/8]) or reversal level 40.62 ([2/8]).

Technical indicators point to the continuation of the upward trend: Bollinger bands are directed upwards, the MACD histogram increases in the positive zone and Stochastic reverses upwards.

Resistance levels: 50.00, 51.56, 53.12. | Support levels: 46.05, 43.75, 40.62.

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