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Look for Shares of Cisco Systems to Potentially Pullback after Yesterday's 1.26% Rise
Dec 17, 2012 (SmarTrend(R) News Watch via COMTEX) --
Cisco Systems (NASDAQ:CSCO) traded in a range yesterday that spanned from a low of $19.80 to a high of $20.14. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $20.00 on volume of 46.8 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 34% above that low price at $20.12 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Cisco Systems on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.97. Since that recommendation, shares of Cisco Systems have risen 4.7%. We continue to monitor CSCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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