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Cisco Systems (CSCO) Approaches New Upside Target of $53.19

By David Diaz

Shares of Cisco Systems (NASDAQ:CSCO) opened today above their pivot of $52.74 and have already reached the first level of resistance at $52.96. Should the shares continue to rise, the resistance pivots of $53.19 and $53.64 will be of interest.

Cisco Systems share prices have moved between a 52-week high of $53.16 and a 52-week low of $40.19 and are now trading 32% above that low price at $53.10 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.6%.

Based on a current price of $53.10, Cisco Systems is currently 8.4% above its average consensus analyst price target of $48.62. The stock should discover initial support at its 50-day moving average (MA) of $47.55 and subsequent support at its 200-day MA of $45.68.

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 21.2%. We continue to monitor CSCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Cisco Systems

Ticker(s): CSCO