Shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are trading at 58.00.

On the daily chart, the price is correcting, trying to leave the ascending channel with dynamic boundaries of 61.00–56.00.

On the four-hour chart, the quotes consolidated above the high of 57.00, confirming the likelihood of further growth. Consolidation above the year’s extreme of 59.00 will allow the asset to reach the 62.00 region, above the channel resistance line.

Technical indicators are in a buy state: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming correction bars in the positive zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 59.20, with the target at 62.50. Stop loss — 58.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 57.00, with the target below 53.30. Stop loss — 59.00.