CSCO stock price today: Cisco Systems hovers around $42.50

Cisco Systems Inc. (NASDAQ: CSCO) navigates around Friday’s close.
(NASDAQ: CSCO) remains under pressure following the recent sell-off.

Pablo Piovano FXStreet

Shares of tech giant Cisco Systems Inc. (NASDAQ: CSCO) are trading around Friday’s close in the mid-$42.00s, regaining some ground after bottoming out near $42.30, or new 3-month lows.

(NASDAQ: CSCO) retreated around 12% in the second half of last week following bigger-than-expected decline in revenues during the fourth fiscal quarter. In addition, news that Chief Financial Officer Kelly Kramer will retire has been also hurting the sentiment around the networking giant.

While the soft tone from the earnings report was somewhat priced in by investors mainly due to the impact of the coronavirus pandemic, concerns over the large decline in orders caught markets off-guard and exacerbated the downside.

CSCO stock chart

At the moment, during the premarket activity, NASDAQ: CSCO) is up just 0.05% at $42.52 and faces the next resistance at $44.80 (200-day SMA) seconded by $46.40 (55-day SMA) and finally $48.45 (monthly high Aug.11). On the downside, a breach of $42.27 (monthly low Aug.14) would expose $40.49 (monthly low May 4) and then $37.47 (monthly low Apr.2).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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