Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Cisco Systems' stock (CSCO) rose anew in the intraday levels, scoring a profit of 0.75% in the last session, or 0.24 points, as the stock gets hurt by exiting that ascending price channel that limited recent trading, while getting hurt as well by a negative pattern that formed in the short term, the Double Top pattern, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, as long as the resistance of 32.42 holds on, targeting the support of 30.38 anew.