Cisco Systems may rise to 56.00 - 56.80

51.5 is our pivot point.

Our preference

As long as 51.5 is support look for 56.

Alternative scenario

Below 51.5, expect 50.2 and 49.5.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 52.041 and 49.824).

Supports and resistances

57.6 **

56.8 *

56 **

55.2

53.56 (USD-last)

52

51.5 **

50.2 *

49.5 **

Number of asterisks represents the strength of support and resistance levels.