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Market Insights

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Cisco Is Holding Multi-Decade Support: Chart Analysis
David Russell
February 24, 2021

Cisco Systems has gone nowhere for three years, but now the tech stock may be showing signs of life.

First, notice the pullback from new highs in early February.

Second, notice where CSCO broke out and is trying to stabilize. The current $45.50 level was resistance in December in January. Prices also chopped on either side of it between August 2019 and February 2020.

For more, please click here to view the related idea and chart analysis on TradingView.

Cisco Systems (CSCO), daily chart, with select indicators, courtesy of TradingView.

About the author

David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.