Cisco Stock analysis 19.12.2019

Cisco shares returned to rise after testing support at the lower of the falling channel, and is currently approaching the resistance level of 46.89 at the Fibonacci retracement rate of 61.8%.

The price is moving above the 7-20-50 moving averages and stability in the movement above these averages is a key factor for the continuation of the current bullish movement.

The stochastic oscillator is on an upward path within the overbought zone and exiting from this area and the price is under resistance, which will lead to a downward correction in the price path.

The general direction of the movement: bullish.