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Cisco Systems (CSCO) Crosses Pivot Point Resistance at $20.79
[February 01, 2013]

Cisco Systems (CSCO) Crosses Pivot Point Resistance at $20.79

Feb 01, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Cisco Systems (NASDAQ:CSCO) have bullishly opened above the pivot of $20.68 today and have reached the first resistance level of $20.79. Should the shares continue to rise, the resistance pivots of $21.02 and $21.36 will be of interest.

Cisco Systems has overhead space with shares priced $20.88, or 7.3% below the average consensus analyst price target of $22.51. The stock should discover initial support at its 50-day moving average (MA) of $19.96 and subsequent support at its 200-day MA of $18.32.

Over the past year, Cisco Systems has traded in a range of $14.96 to $21.30 and is now at $20.88, 40% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.

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 8.4%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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