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Cisco Systems (CSCO) Crosses Pivot Point Support at $19.76
Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) --
Shares of Cisco Systems (NASDAQ:CSCO) have bearishly opened below the pivot of $19.91 today and have reached the first support level of $19.76. Should the shares continue to fall, the support pivots of $19.59 and $19.27 will be of interest.
Potential upside of 12.9% exists for Cisco Systems, based on a current level of $19.77 and analysts' average consensus price target of $22.32. The stock should find initial support at its 50-day moving average (MA) of $18.58 and further support at its 200-day MA of $18.30.
In the past 52 weeks, shares of Cisco Systems have traded between a low of $14.96 and a high of $21.30 and are now at $19.77, which is 32% above that low price. The 200-day and 50-day moving averages have moved 0.01% higher and 0.34% higher over the past week, respectively.
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 5.0%. 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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