Cisco Systems Set to Possibly Pullback After Yesterday's Rally of 1.16%
Cisco Systems (NASDAQ:CSCO) traded in a range yesterday that spanned from a low of $30.46 to a high of $30.69. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $30.55 on volume of 7.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Cisco Systems has traded in a range of $22.46 to $31.95 and is now at $30.59, 36% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
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.
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