Cisco Stock Forecast
Weaker technical forecast for Cisco as stock downgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Cisco stock price fell by -0.505% on the last day (Tuesday, 2nd Jul 2024) from $47.52 to $47.28. During the last trading day the stock fluctuated 1.76% from a day low at $46.96 to a day high of $47.79. The price has risen in 7 of the last 10 days and is up by 3.48% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 million shares were bought and sold for approximately $738.73 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.78% during the next 3 months and, with a 90% probability hold a price between $42.89 and $46.10 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CSCO Signals & Forecast
The Cisco stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $47.33. On a fall, the stock will find some support from the long-term average at approximately $46.88. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 3.87%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cisco stock
Cisco finds support from accumulated volume at $46.72 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 $0.83 between high and low, or 1.76%. For the last week the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: $45.55 (-3.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (CSCO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cisco Systems to open at $47.34, and during the day (based on 14 day Average True Range), to move between $46.55 and $48.01, which gives a possible trading interval of +/-$0.734 (+/-1.55%) up or down from last closing price. If Cisco Systems takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.29 (0.02%) than the support at $46.72 (1.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cisco Systems stock A Buy?
Cisco holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.293 Hold/Accumulate Downgraded
Predicted Opening Price for Cisco Systems of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $47.34 ( 0.137%) | $47.28 |
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 | |
|---|---|---|
| R3 | 48.17 | 1.88% |
| R2 | 47.86 | 1.22% |
| R1 | 47.66 | 0.80% |
| Price | 47.28 | |
| S1 | 47.03 | -0.530% |
| S2 | 46.83 | -0.94% |
| S3 | 46.52 | -1.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 48.34 | 2.24% |
| R2 | 48.32 | 2.20% |
| R1 | 47.29 | 0.0212% |
| Price | 47.28 | |
| S1 | 46.72 | -1.18% |
| S2 | 46.50 | -1.65% |
| S3 | 46.02 | -2.66% |
CSCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | Jul 05, 2024 | Jul 24, 2024 | $0.400 | 0.85% |
| 2 | Feb 14, 2024 | Apr 03, 2024 | Apr 24, 2024 | $0.400 | 0.83% |
| 3 | Nov 15, 2023 | Jan 03, 2024 | Jan 24, 2024 | $0.390 | 0.760% |
| 4 | Aug 16, 2023 | Oct 03, 2023 | Oct 25, 2023 | $0.390 | 0.744% |
| 5 | May 17, 2023 | Jul 05, 2023 | Jul 26, 2023 | $0.390 | 0.733% |
FAQ
Click here for our free guide on how to buy Cisco Stock.
