The shares of Cisco Systems Inc., an American manufacturer and network equipment supplier for large holdings and telecommunications companies, are correcting at 48.00.
On the daily chart, the price continues to implement a global upward correction, declining after reaching the local high of last year, around 50.00.
On the four-hour chart, the current movement is developing in a local downward channel, which can work as a continuation pattern of the Flag trend with the target at 54.00.
Technical indicators gave a local buy signal: the range of EMA fluctuations on the Alligator indicator is expanding upwards, and the AO histogram is forming correctional bars, rising in the buying zone.