Market Snapshots

Cisco Systems Wave Analysis 19 March, 2021

Cisco Systems Wave Analysis 19 March, 2021

• Cisco Systems reversed from long-term resistance level 50.00

• Likely to fall to support level 47.40

Cisco Systems under bearish pressure after the price reversed down from the long-term resistance level 50.00 (which has been reversing the price from the end for 2019) – standing close to the upper weekly Bollinger Band.

The downward reversal from the resistance level 50.00 stopped the previous medium-term impulse wave (3).

Given the strength of the resistance level 50.00 , clear bearish divergence on the weekly Stochastic indicator – Cisco Systems is likely to fall further toward the next support level 47.40.

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