Stocks

Cisco collects profits - Analysis - 10-08-2018

2018-08-10 13:30:46 GMT (Economies.com)

Cisco Sysyems' stock inched down 0.14% in the last session, or 0.06 points, while still buoyed by a pattern that formed in the short term, the Symmetrical Triangle pattern, with positive support from the 50-day SMA, as traders collected some short-term profits, while the stock vented off overbought saturation in the RSI, gathering momentum to help it climb anew. 

 

Therefore we expect the stock to return higher, as long as the support of 42.98 holds on, targeting the pivotal resistance of 46.37. 

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