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