Cisco Stock analysis 30.01.2020

Cisco stock fell below the 49.05 support level and continued to decline to the next support level 49.89 as the movement stabilized at this level near the 61.8% Fibonacci retracement.

The stock is currently moving below the moving averages 7-20, which have become resistances against the price, while the EMA50 remains a support level for it.

The stochastic oscillator has gone out of the overbought zone on a downside path, and approached the oversold zone thus negatively affecting the price, pushing it down and breaching the first support.

The general direction of movement: neutral.