Cisco breaches current support - Analysis - 24-09-2020

Cisco's stock feel 2.64% in the last session, breaching the support of 38.55, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

Therefore we expect more losses for the stock, targeting the support of 36.16, representing the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bearish