Short term view - CISCO SYSTEMS : Resistance reinstated
The trend has been momentarily interrupted by a correction. It approaches the support at $42.700, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at $47.800. The invalidation level is below $42.700.Arguments :
- The resistance has been shortly breached, but it is now reinstated. Prices can fall.
- Prices made a new all-time-high, this confirms the strength of the trend.
- The rising moving average confirms our opinion.
- The gap being opened could announce a bearish change in the trend, should it remain open in the coming days.
Cisco Systems designs and sells a range of technologies that power the Internet. The company's business is organized into the following three geographic segments: Americas; Europe, Middle East, and Africa; and Asia Pacific, Japan, and China. The company's products and technologies are grouped into the following categories: Infrastructure Platforms; Applications; Security and Other Products. In addition to its product offerings, the company provides a range of service offerings, including technical support services and other services. The company delivers its technologies through software and services. The company's customers include businesses of all sizes, public institutions, governments, and service providers.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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