Cisco is overpriced analysts say, chart agrees.
A lot of analysts are switching from buy to hold and sell on cisco, and the chart tends to agree. The stock is overextended without any retracement since its strong move up. If we confirm top here we are starting a nasty downtrend channel.
RSI: Close to sell
Stoch: Sell
21 sma - 77 sma - 231 sma: Price is moving higher than all SMA's with the 231 day sma flattened out (meaning we are out of upward energy). The 21SMA crossed under all the other SMA's which si bearish and the 77 SMA is pointing towards negative price movement too. Furthermore... we're in an ascending wedge that is going to break.
RSI: Close to sell
Stoch: Sell
21 sma - 77 sma - 231 sma: Price is moving higher than all SMA's with the 231 day sma flattened out (meaning we are out of upward energy). The 21SMA crossed under all the other SMA's which si bearish and the 77 SMA is pointing towards negative price movement too. Furthermore... we're in an ascending wedge that is going to break.
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