Cisco Systems: A Move Towards And Below $47.5
2022.05.19 12:46
When we look at the Cisco Systems Inc (NASDAQ:CSCO) chart, we see it been trading in the $48.5 region, falling temporarily to the $47.5 where it bounced and started a slow climb, moving into the $49.5 range on the May 17 and then the $50.5 range on the May 19.
It managed to reach as high as $51 during yesterday’s session but what followed was a retraction to the $48 level. It was last found trading at the $48.4 range.
Cisco Systems had scheduled a quarterly earnings announcement yesterday 19/05/2022. EPS estimates were surpassed however the Revenue estimates fell short which explains the retraction.
Today we can expect a move towards and below the $47.5 support level. If however, it manages to hold on to the current level then a move towards the $49.5 can be expected.
Cisco Systems price chart.
