Cisco Stock Analysis 07.11.2019

Cisco is moving in a sideways trend after the support at 46.89 has held up against the price action. The price was able to breach the 50 MA.

Stability is above 61.8% Fibonacci retracement which is a key factor to start the bullish path and with the price able to breach the 50-20 moving averages and stability above these averages will be a key factor to start the bullish move.

Stochastic is on an uptrend towards overbought area, which will increase the positive pressure on the price and strengthen the support level.

The general trend is to the upside.