Cisco stock analysis 08.10.2020

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 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.