Cisco Systems may rise to 59.30 - 60.30

Our pivot point is at 54.6.

Our preference

The upside prevails as long as 54.6 is support.

Alternative scenario

Below 54.6, expect 53.1 and 52.2.

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 positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 53.334 and 50.852). Finally, Cisco Systems has crossed above its upper daily Bollinger band (55.79).

Supports and resistances

61.2 **

60.3 *

59.3 **

58.4

56.4 (USD-last)

55.2

54.6 **

53.1 *

52.2 **

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