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Cisco Systems Inc., Technical Analysis

12/9/2022 10:07 AM

The shares of Cisco Systems Inc., an American manufacturer and network equipment supplier for large holdings and telecommunications companies, are correcting at 49.00.

On the daily chart, the price is holding above the resistance line of the downward channel with dynamic boundaries 45.00–30.00 after the breakdown of the basic Fibonacci 38.2% correction at 48.30 yesterday.

In the four-hour chart, the potential for further growth is quite high, and quotes soon may break the complete correction of 61.8% Fibonacci around 51.30, which will mean a continuation of the upward movement to the key level of 54.30, around which there is a full correction level of 61, 8% Fibonacci.

Technical indicators keep a stable buy signal: the range of fluctuations of the EMA on the Alligator indicator actively expands upwards, and the histogram of the AO oscillator forms downward bars high in the buying zone.




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