Market Overview
On October 26, 2026, Cisco's stock has shown a positive reversal from a significant support level, indicating potential upward movement in the near future.
Technical Analysis
Cisco recently reversed from the support zone around 104.00. This level has been crucial as it halted wave 1 at the end of September. The support zone is further reinforced by:
- The support trendline of the daily down channel established since early June.
- The lower daily Bollinger Band.
- The 50% Fibonacci correction of the upward impulse that began in April.
This upward reversal from the support zone has completed the short-term impulse wave (i) and initiated the active correction (ii).
Future Projections
Given the robustness of the support level at 104.00, Cisco is expected to continue its upward trajectory towards the next resistance level at 112.50. This resistance level previously halted wave b in mid-September and wave a earlier this month.