Cisco returns lower - Analysis - 16-10-2020

2020-10-16 09:22:14 GMT (Economies.com)
 

Cisco Systems' stock (CISCO) returned lower with negative signals from the RSI with negative pressure from the 50-day SMA, marking a 0.38% loss in the last session and settling below the resistance of 40.41, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (From 32.39 to 48.43). 

 

Therefore we expect the stock to decline and target the next support at 38.55, representing the ratio 61.8% of the same retracement levels. 

 

Expected trend for today: Bearish 

 
 
 
  Symbol Last Change Chg.%
1.1835
0.0056
0.4716%
1.3026
0.0039
0.2984%
Tadawul
8154.59
-312.66
3.69%
24.336
-0.438
1.766%
39.157
-1.786
4.361%
41.77
-0.87
2.04%
1898.210
-13.805
0.722%
 
 
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