Cisco share continues its sideways movement around the support level of 38.50, as it closed yesterday's trading above this level, correcting the bearish path.
The trades stabilized below the MA 50, which is pressuring the price for a further decline, which supports expectations for a further decline in the upcoming …
The pair may correct downwards as the demand shifts from risk assets to safe-haven currencies: dollar, yen, the Swiss franc. The main negative factor is the lack of progress in the stimulus talks between Democrats and Republicans.
Technical side:
The price is above the middle Bollinger band, below SMA …
The 29.50 resistance level is holding back buyers. An ascending truncated pattern has formed. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals an overbought condition.
: monitor the price movement in real time.
Trading recommendations:
Sell when a descending wave pattern has formed, where …
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