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Next Resistance Level for Cisco Systems (CSCO) is $21.06
Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Cisco Systems (NASDAQ:CSCO) opened today above their pivot of $20.85 and have already reached the first level of resistance at $20.98. Analysts will be watching for a cross of the next upside pivot targets of $21.06 and $21.27.
Potential upside of 14.2% exists for Cisco Systems, based on a current level of $21.10 and analysts' average consensus price target of $24.09. Cisco Systems shares have support at the 50-day moving average (MA) of $20.58 and additional support at the 200-day MA of $18.42.
In the past 52 weeks, Cisco Systems share prices have been bracketed by a low of $14.96 and a high of $21.67 and are now at $21.10, 41% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.
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 9.4%. 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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