Cisco Stock Forecast
Stronger technical forecast for Cisco stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Cisco stock price gained 0.281% on the last trading day (Thursday, 28th Mar 2024), rising from $49.77 to $49.91. During the last trading day the stock fluctuated 0.773% from a day low at $49.81 to a day high of $50.20. The price has been going up and down for this period, and there has been a 0.24% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately $849.46 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $49.83, a level that may pose a second chance to hit a runner. According to fan-theory $52.23 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $49.73 and $49.27. A breakdown below any of these levels will issue sell signals. 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 -0.617%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $0.385 between high and low, or 0.773%. For the last week the stock has had daily average volatility of 0.83%.
Our recommended stop-loss: $47.92 (-3.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (CSCO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cisco Systems to open at $49.97, and during the day (based on 14 day Average True Range), to move between $49.29 and $50.53, which gives a possible trading interval of +/-$0.617 (+/-1.24%) up or down from last closing price. If Cisco Systems takes out the full calculated possible swing range there will be an estimated 2.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.18 (0.54%) than the support at $49.55 (0.72%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.099 Hold/Accumulate Upgraded
Predicted Opening Price for Cisco Systems of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$49.97 ( 0.124%) | $49.91 |
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 | 50.36 | 0.89 % | |
R2 | 50.21 | 0.600 % | ||
R1 | 50.12 | 0.418 % | ||
Current price: | 49.91 | |||
Support | S1 | 49.82 | -0.171 % | |
S2 | 49.73 | -0.353 % | ||
S3 | 49.59 | -0.648 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.51 | 1.20 % | |
R2 | 50.28 | 0.741 % | ||
R1 | 50.18 | 0.541 % | ||
Current price | 49.91 | |||
Support | S1 | 49.55 | -0.721% | |
S2 | 49.06 | -1.70% | ||
S3 | 48.93 | -1.96% |
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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