Cisco Systems stock price (CSCO) rose in the intraday levels while recouping some recent losses, amid negative pressure from the 50-day SMA, and with the dominance of the downward short-term trend alongside the trend line, with negative signals from the RSI after reaching oversold levels.
Therefore we expect the stock to return lower, targeting the important support of $46.66 and preparing to break it.
Trend forecast: Likely Bearish
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