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Cisco Systems Inc., Technical Analysis
2/20/2023 10:05 AMThe shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are correcting at 50.75.
On the daily chart, the price continues to implement the global upward correction, leaving the local corridor with dynamic boundaries 45.00–49.50 yesterday and firmly consolidated above the resistance line.
On the four-hour chart, a high potential for further upward movement is signaled by the price gap with which the quotes left the local channel, breaking the level of 49.50, as well as the possible formation of a global Head and shoulders reversal pattern with the Neckline at 50.00.
Technical indicators gave a local buy signal: the range of EMA fluctuations on the Alligator indicator began to expand upwards, and the AO histogram forms rising bars in the buy zone, moving away from the transition level.
