The Cisco stock recently announced its Q2 earnings report on August 16th, 2023, the reported earnings gave a positive surprise of 7.79% from estimated earnings, and reported revenue also gave a positive surprise of 1.02% by estimated reports. Moreover, Cisco stock publicized its upcoming dividend payout of $0.39 and the payment date is October 25th.
Moreover, Cisco Systems, Inc. (CSCO) stock market capitalization is $226.981 Billion and the total revenue is $56.998 Billion. Moreover, the stock’s basic EPS is $3.08 and the price-to-earnings ratio is 17.97.
Cisco’s stock price ended at $55.70 on August 25th, 2023, dropping 0.83% from the previous day.
The price action shows that Cisco Systems, Inc. ( NASDAQ: CSCO) stock price was in a swift uptrend from May 4th, 2023 it took support around $45, increasing by 24.5%, and reached a high of around $56.43 on August 25th by making higher highs and lows and the continuous streak of break of structure and followed trendline support effectively. since then the CSCO stock inclined as support was high and is in an uptrend.
At the time of publication, the CSCO Stock’s current price is trading around $55.70 and it sustained at the Fibonacci 50% level around $50, taking support and showing strength on the chart, most probably Cisco Systems, Inc. ( NASDAQ: CSCO) stock might incline more as buyers have control over CSCO price but a concern might arise as it has reached major supply area, if buyers fail it may drop back to the demand zone, or if demand zone is mitigated then it may consume liquidity around the demand zone and make new lower lows and highs and the new streak of break of structures as selling pressure might increase.
Therefore, if Cisco fails to maintain the current level, the CSCO price could continue to drag downwards and hit the nearest support levels around $50.02 and $45.57.
However, if the stock price sustains the current level and the Cisco price increases, then it might reach the nearest resistance levels of $56.50 and $60.22.
Technical Analysis of CSCO Stock Price in 1-D Timeframe
At the time of publishing, Cisco Systems, Inc. (NASDAQ: CSCO), the technical indicators for Cisco are bullish, as the stock is rising. The daily chart shows that Cisco is trading above its 50-day and 100-day moving averages (EMA’s), signaling a bullish trend. Moreover, the relative strength index is around the 66 level, indicating a bullish market sentiment. The MACD is showing a bullish crossover suggesting bullishness in the market.
Cisco Systems, Inc (NASDAQ: CSCO) stock, highlights that the investors and traders of the stock price are optimistic over the daily time frame (1-D). The price action of CSCO stock also gives bullish and positive views at the time of publishing. The technical analysis tools of Cisco stock price also support bullishness. The EMA, RSI, and MACD highlight upward signals and indicate that an uptrend may continue in Cisco stock price if key resistance is jumped.
- Support levels: The nearest support levels for Cisco stock price are $50.02 and $45.57.
- Resistance levels: The nearest resistance levels for the Cisco stock price are $56.50 and $60.22.
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