Cisco Systems may fall to 43.50 - 44.20

Our pivot point is at 47.7.

Our preference

As long as 47.7 is resistance look for 44.2.

Alternative scenario

The upside breakout of 47.7 would call for 48.9 and 49.6.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the stock is trading above its 20 day moving average (46.56) but under its 50 day moving average (47.0532).

Supports and resistances

49.6 **

48.9 *

47.7 **

47.2

46.65 (USD-last)

44.9

44.2 **

43.5 *

42.8 **

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