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Cisco Systems (CSCO) Breaks Through Support at $21.02
[April 17, 2013]

Cisco Systems (CSCO) Breaks Through Support at $21.02

Apr 17, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Cisco Systems (NASDAQ:CSCO) have bearishly opened below the pivot of $21.09 today and have reached the first support level of $21.02. Investors may be interested in a cross of the next downside pivot targets of $20.87 and $20.65.

There is potential upside of 14.7% for shares of Cisco Systems based on a current price of $20.93 and an average consensus analyst price target of $24.00. Cisco Systems shares should encounter resistance at the 50-day moving average (MA) of $21.16 and support at its 200-day MA of $19.20.

Cisco Systems share prices have moved between a 52-week high of $21.98 and a 52-week low of $14.96 and are now trading 40% above that low price at $20.93 per share. The 200-day and 50-day moving averages have moved 0.34% higher and 0.17% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cisco Systems on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.97. Since that recommendation, shares of Cisco Systems have risen 11.5%. We continue to monitor CSCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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