Cisco Stock Forecast
Weaker technical forecast for Cisco as stock downgraded to Sell Candidate.
(Updated on Mar 27, 2024)
The Cisco stock price gained 0.444% on the last trading day (Wednesday, 27th Mar 2024), rising from $49.55 to $49.77. During the last trading day the stock fluctuated 0.99% from a day low at $49.41 to a day high of $49.90. The price has fallen in 6 of the last 10 days and is down by -0.68% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 217 thousand more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $657.76 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $49.85 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.67% during the next 3 months and, with a 90% probability hold a price between $45.70 and $48.02 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CSCO Signals & Forecast
The Cisco stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $49.62 and $49.27. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -0.90%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cisco stock
Cisco finds support from accumulated volume at $49.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.490 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 0.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CSCO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Cisco Systems to open at $49.69, and during the day (based on 14 day Average True Range), to move between $49.14 and $50.40, which gives a possible trading interval of +/-$0.632 (+/-1.27%) up or down from last closing price. If Cisco Systems takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.55 (0.44%) than the resistance at $50.18 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cisco Systems stock A Buy?
Cisco holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.390 Sell Candidate Downgraded
Predicted Opening Price for Cisco Systems of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$49.69 ( 0.154%) | $49.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSCO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.18 | 0.83 % | |
R2 | 50.00 | 0.454 % | ||
R1 | 49.88 | 0.222 % | ||
Current price: | 49.77 | |||
Support | S1 | 49.51 | -0.530 % | |
S2 | 49.39 | -0.762 % | ||
S3 | 49.20 | -1.14 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.51 | 1.49 % | |
R2 | 50.28 | 1.02 % | ||
R1 | 50.18 | 0.82 % | ||
Current price | 49.77 | |||
Support | S1 | 49.55 | -0.442% | |
S2 | 49.06 | -1.43% | ||
S3 | 48.93 | -1.69% |
CSCO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 14, 2024 | Apr 03, 2024 | Apr 24, 2024 | $0.400 | 0.80% |
2 | Nov 15, 2023 | Jan 03, 2024 | Jan 24, 2024 | $0.390 | 0.760% |
3 | Aug 16, 2023 | Oct 03, 2023 | Oct 25, 2023 | $0.390 | 0.744% |
4 | May 17, 2023 | Jul 05, 2023 | Jul 26, 2023 | $0.390 | 0.733% |
5 | Feb 15, 2023 | Apr 04, 2023 | Apr 26, 2023 | $0.390 | 0.84% |
FAQ
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