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Cisco Systems (CSCO) Approaches New Upside Target of $21.25

Published on Wed, 02/06/2013 - 13:39
By Adrienne Chilton

Cisco Systems (NASDAQ:CSCO) has opened bullishly above the pivot of $20.91 today and has reached the first level of resistance at $21.04. Analysts will be watching for a cross of the next upside pivot targets of $21.25 and $21.59.

In the past 52 weeks, shares of Cisco Systems have traded between a low of $14.96 and a high of $21.30 and are now at $21.16, which is 41% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

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.

There is potential upside of 6.8% for shares of Cisco Systems based on a current price of $21.16 and an average consensus analyst price target of $22.60. The stock should find initial support at its 50-day moving average (MA) of $20.11 and further support at its 200-day MA of $18.34.

By Adrienne Chilton