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Cisco Systems (CSCO) Breaks Through Resistance at $21.14
Jan 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
Cisco Systems (NASDAQ:CSCO) has opened bullishly above the pivot of $20.98 today and has reached the first level of resistance at $21.14. Investors may be interested in a cross of the next upside pivot targets of $21.26 and $21.54.
There is potential upside of 6.7% for shares of Cisco Systems based on a current price of $21.11 and an average consensus analyst price target of $22.51. Cisco Systems shares have support at the 50-day moving average (MA) of $19.62 and additional support at the 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 $21.11, which is 41% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.
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 10.8%. 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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