Cisco Pulls Back After Jumping

NASDAQ:CSCO   Cisco Systems, Inc.
The Dow Jones Industrial Average has been moving lately, and today we’ll consider index member Cisco Systems.

The networking giant spent about a year trapped below the $52 area. That zone marked a top in April, June and early this month. However CSCO broke above it on July 19 and ran to a new 52-week high. It retreated on Friday to hold the earlier peak. Old resistance may have become new support.

Second, the pullback brought CSCO back to its 21-day exponential moving average (EMA). The 8-day EMA remains also remains above the 21-day EMA. Those points may suggest its recent short-term uptrend remains in effect.

Finally, the stock rallied after its last two earnings reports. Will that positive history provide a tailwind for the shares with the next set of numbers due on August 16?

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