Cisco seeks a bottom to bounce higher - Analysis - 06-01-2021

Cisco's stock slumped 1.58% in the last session amid negative signals from the RSI, while seeking a bottom to bounce it higher in order to gather positive momentum, settling thereafter at 60.28, amid the dominance of the main upward trend in the medium term, with positive support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the resistance of 64.27, provided the support of 60.25 holds on.

Expected trend for today: Bullish