Cisco Systems may fall to 43.40 - 44.10

Our pivot point stands at 47.8.

Our preference

As long as 47.8 is resistance look for 44.1.

Alternative scenario

The upside breakout of 47.8 would call for 49 and 49.7.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the stock is trading above its 20 day moving average (46.62) but under its 50 day moving average (46.9092).

Supports and resistances

49.7 **

49 *

47.8 **

47.4

46.76 (USD-last)

44.8

44.1 **

43.4 *

42.8 **

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