Cisco (CSCO) technical update for March 23, 2015

The ongoing rebound of CSCO shares could find strong resistance @ 28.90 stemming from the 20-day SMA and fibo-levels, before the next leg down begins. In the medium term the trend is neutral as price has been moving sideways in a range between $26 and $30 during the last 4 months.

CSCO daily chart (3 months):

cs2

Chart courtesy of http://www.StockCharts.com

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