Cisco´s movement confirms the significant improvement of Nasdaq´s main components. The supplier of networking equipment for Internet has been able to go through the difficult area of 24,80 dollars. It achieved this goal during the session of March the eighth, when the resistance was clearly overtaken. This movement strength assessment implies to evaluate a key data: the volume which came along the rise. The chart points out that this statistical data was specially high, compared to the 30-day moving average. Consequently, we can infer from this technical indicator, that the shift towards a more bullish scenario was validated for a mass of investors.
Anyway, we must not forget that the short-term way doesn´t lack obstacles. The next goal is the resistance of 27,80 dollars, which approximately coincides with the rising channel top.
The recommendation from a short-term perspective, is to maintain buying positions. Stop loss in 25,50 dollars.
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