[May 20, 2013] Next Support Level for Cisco Systems (CSCO) is $23.51 Tweet May 20, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Cisco Systems (NASDAQ:CSCO) have bearishly opened below the pivot of $24.06 today and have reached the first support level of $23.88. Should the shares continue to fall, the support pivots of $23.51 and $22.96 will be of interest. Cisco Systems has overhead space with shares priced $23.87, or 4.2% below the average consensus analyst price target of $24.92. The stock should discover initial support at its 50-day moving average (MA) of $21.16 and subsequent support at its 200-day MA of $19.74. Cisco Systems share prices have moved between a 52-week high of $24.25 and a 52-week low of $14.96 and are now trading 60% above that low price at $23.87 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.9%. 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 27.8%. 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 [email protected] --------------------------------------------------------------------------------------------- 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 [ Back To TMCnet.com's Homepage ]