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Cisco Systems Inc. Technical Analysis

3/3/2023 10:14 AM

The shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are correcting at 48.50.

On the daily chart, the price completes the formation of the global Head and shoulders pattern with the Neckline at 51.00, which the instrument has already tested this year but could not overcome and rolled back down. Now, the quotes are traded in the local ascending channel with dynamic boundaries 47.00–51.00, preparing to continue moving towards 56.00.

Technical indicators keep a local buy signal: the range of EMA fluctuations on the Alligator indicator is in the ascending zone, and the AO histogram forms corrective bars in the buy zone.

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