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Stock Investors Bid Up Shares of Cisco Systems, Up 1.2%

Published on Thu, 01/31/2013 - 11:32
By Mallory Stone

Up 1.2% to $20.83, Cisco Systems (NASDAQ:CSCO), is one of today's notable movers. The S&P is currently trading fractionally lower to 1,501 and the Dow Jones Industrial Average is trading fractionally higher to 13,918.

Over the past year, Cisco Systems has traded in a range of $14.96 to $21.30 and is now at $20.83, 39% above that low. The 200-day and 50-day moving averages have moved 0.08% higher and 1.01% higher over the past week, respectively.

Cisco Systems, Inc. supplies data networking products for the Internet. The Company's Internet Protocol-based networking solutions are installed at corporations, public institutions and telecommunication companies worldwide. The Company's solutions transport data, voice, and video within buildings, across campuses, and around the world.

Cisco Systems (NASDAQ:CSCO) has potential upside of 8.1% based on a current price of $20.83 and analysts' consensus price target of $22.51. The stock should find initial support at its 50-day moving average (MA) of $19.91 and further support at its 200-day MA of $18.32.

By Mallory Stone