Cisco Is Close to the 200 Day Moving Average
Published on Tuesday, 04 September 2012 07:40 Written by TradersHuddle Wire
New York, September 4th (TradersHuddle.com) -Cisco Systems, Inc. (NASDAQ:CSCO) closed the trading session at $19.08 near its 200 day moving average set at $18.47. Cisco's price action is just above this key support level, grabbing traders' attention for a possible trading opportunity.
Cisco Systems, Inc. (NASDAQ:CSCO) supplies data networking products for the Internet. The Company's Internet Protocol-based networking solutions are installed at corporations, public institutions, home networks and telecommunication companies worldwide. The Company's solutions transport data, voice, and video between networks and computers around the world. Cisco was founded in 1984 and its headquartered in San Jose, CA.
The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $14.96 and resistance at $19.39. These levels will provide insight for the stock's latest price dynamics.
Traders wanting to establish a position on Cisco will look for evidence of buying near the 200 day moving average, before opening the position as close as possible to this key technical level. Also, they need to consider the latest range defined by the calculated support and resistance levels for insights on other key levels that might have an effect on future price movements.
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