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Cisco Systems (CSCO) Breaks Through Resistance at $31.78

By David Diaz

Shares of Cisco Systems (NASDAQ:CSCO) have bullishly opened above the pivot of $31.49 today and have reached the first resistance level of $31.78. Investors may be interested in a cross of the next upside pivot targets of $31.93 and $32.37.

In the past 52 weeks, shares of Cisco Systems have traded between a low of $22.46 and a high of $34.60 and are now at $31.59, which is 41% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Cisco Systems (NASDAQ:CSCO) has potential upside of 12.2% based on a current price of $31.59 and analysts' consensus price target of $35.44. The stock should find initial support at its 50-day moving average (MA) of $27.70 and further support at its 200-day MA of $26.87.

SmarTrend is tracking the current trend status for Cisco Systems and will alert subscribers who have CSCO in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts Cisco Systems

Ticker(s): CSCO