Cisco stock analysis

Cisco share started correcting the bullish path after reaching the resistance 52.50, after it managed to confirm the break of the previous resistance level of 49.00 and rise above the top, thus confirming the bullish path after the decline that formed last week.

The price is trading above the moving averages 20-7-50 that form support for the price near the level of 45.90 and pressures it to continue the upward movement.

The stochastic oscillator is giving a signal for a correction as it moves downwards towards the oversold area. Therefore, we could see the continuation of the downward correction in the price movement.

The expected trading range is between 48.13 support and 55.00 resistance

The expected general trend for today: bullish path