17.10.2016 - We expect the price rebound of Cisco to 32.00
The price of Cisco after some consolidation around the level of 30.00, started to decline and reached the psychologically important level of 30.00. In case of price fixing below this mark, and breaking through the ascending channel's lower border, quotes will continue the decline to 28.66 and 27.00. On the other hand, fixation higher than the level of 32.00, will be a signal to buy with targets at 34.00 and 35.00. We expect a correction in the near future, but the medium-term outlook is negative.