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TMCNet:  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 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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