Cisco stock analysis 24.09.2020

CISCO continues its downward movement, as it closed yesterday's trading with a strong decline, and breached the support level of 38.48. Thus, the price confirms the downside path it is moving within.

The trading stabilized below the moving averages, which are pressuring the price for further decline, which supports expectations for further decline in the upcoming sessions, provided that the stability is below the 50-20 averages, which form resistance levels.

The expected trading range is between 37.50 support and 42.20 resistance.

The expected general trend for today: Bearish.