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S&P 500 Overbought StocksArchive
- 11/8/2024 -
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Cisco Systems (CSCO) Technical Analysis
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| Summary:
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| | It was a first positive week for the Cisco Systems (CSCO). During the week, the CSCO gained 2.60 points, or 4.69%, and closed at 58.04 on Friday, November 8, 2024. It was the best weekly gain since August 16, 2024. Weekly volume was -25% below average.
CSCO is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CSCO long-term trend chart]
A long-term downtrend had started on September 1, 2023 at 58.19 and reached 44.50 on August 12, 2024. CSCO lost 13.69 points, or 23.53%, in 49 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (43.91) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CSCO may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CSCO medium-term trend chart]
A medium-term uptrend had started on August 12, 2024 at 44.50 and reached 58.30 on November 7, 2024. CSCO gained -13.80 points, or -31.01%, in 12 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See CSCO weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See CSCO short-term trend chart]
A short-term uptrend had started on November 1, 2024 at 54.64 and reached 58.30 on November 7, 2024. CSCO gained -3.66 points, or -6.70%, in 6 days. The price is now at the 7.10% retracement level.
 Daily Technical Indicators: [See CSCO daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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