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Shares of Cisco Systems Rise to a New 52-Week High

By James Quinn

Shares of Cisco Systems (NASDAQ:CSCO) traded today at $54.00, breaking its 52-week high. This new high was reached on below average trading volume as 652,000 shares traded hands, while the average 30-day volume is approximately 22.1 million shares.

Based on a current price of $53.99, Cisco Systems is currently 9.9% above its average consensus analyst price target of $48.62. The stock should discover initial support at its 50-day moving average (MA) of $48.00 and subsequent support at its 200-day MA of $45.79.

In the past 52 weeks, Cisco Systems share prices have been bracketed by a low of $40.19 and a high of $54.00 and are now at $53.99, 34% above that low price. The 200-day and 50-day moving averages have moved 0.33% higher and 1.36% higher over the past week, respectively.

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The Company provides products for transporting data, voice, and video within buildings, across campuses, and globally.

SmarTrend recommended that subscribers consider buying shares of Cisco Systems on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.52. Since that recommendation, shares of Cisco Systems have risen 23.0%. We continue to monitor CSCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Cisco Systems

Ticker(s): CSCO