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Look for Shares of Cisco Systems to Potentially Pullback after Yesterday's 1.94% Rise
Jan 24, 2013 (SmarTrend(R) News Watch via COMTEX) --
Cisco Systems (NASDAQ:CSCO) traded in a range yesterday that spanned from a low of $20.82 to a high of $21.10. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $21.04 on volume of 47.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Cisco Systems share prices have moved between a 52-week high of $21.30 and a 52-week low of $14.96 and are now trading 41% above that low price at $21.02 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of Cisco Systems on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.97. Since that recommendation, shares of Cisco Systems have risen 8.7%. We continue to monitor CSCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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