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Cisco Systems (CSCO) Crosses Pivot Point Resistance at $35.29

Mar 24, 2020 (SmarTrend(R) News Watch via COMTEX) --
Cisco Systems (NASDAQ:CSCO) has opened bullishly above the pivot of $34.51 today and has reached the first level of resistance at $35.29. Analysts will be watching for a cross of the next upside pivot targets of $36.53 and $38.55.

Over the past year, Cisco Systems has traded in a range of $32.40 to $58.26 and is now at $36.32, 12% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.5%.

Cisco Systems (NASDAQ:CSCO) has potential upside of 33.9% based on a current price of $36.32 and analysts' consensus price target of $48.62. The stock should run into initial resistance at its 50-day moving average (MA) of $43.94 and subsequent resistance at its 200-day MA of $48.52.

SmarTrend recommended that its subscribers protect gains by selling shares of Cisco Systems on February 25th, 2020 by issuing a Downtrend alert when the shares were trading at $43.14. Since that call, shares of Cisco Systems have fallen 19.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

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