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Cisco Systems Set to Possibly Pullback After Yesterday's Rally of 4.81%
Nov 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Cisco Systems (NASDAQ:CSCO) traded in a range yesterday that spanned from a low of $17.62 to a high of $18.25. Yesterday, the shares gained 4.8%, which took the trading range above the 3-day high of $17.09 on volume of 96.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Cisco Systems share prices have moved between a 52-week high of $21.30 and a 52-week low of $14.96 and are now trading 18% above that low price at $17.66 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Cisco Systems on October 24th, 2012 by issuing a Downtrend alert when the shares were trading at $17.69. Since that call, shares of Cisco Systems have fallen 4.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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