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Watch for Cisco Systems to Potentially Pullback After Gaining 1.35% Yesterday

By Amy Schwartz

Cisco Systems (NASDAQ:CSCO) traded in a range yesterday that spanned from a low of $52.93 to a high of $53.48. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $52.96 on volume of 13.9 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 $40.19 to $53.48 and is now at $53.45, 33% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.6%.

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: rebounders Cisco Systems

Ticker(s): CSCO