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Cisco shares face key resistance levels
Cisco Holdings Company's stock showed positive movements at the start of the trading session, with technical indicators indicating attempts to rebound from key support levels. It successfully tested a vital support level at 36.90 riyals and formed a hammer candlestick pattern, suggesting exhaustion of selling pressure and the beginning of buying interest. The stock is aiming to break above its 50-day exponential moving average to reinforce its upward trend, with a continued increase in trading volumes necessary to confirm the breakout above the resistance at 38.05 riyals. Its next target ranges between 38.85 and 39.75 riyals, with expectations of climbing to 41 riyals if buying momentum persists. Regarding risk management, the support level at 36.90 riyals is critical; a break below it could lead the stock to retest its September low at 36.65 riyals. Since the start of 2026, the stock has shifted from a downtrend to an uptrend after bouncing from a bottom at 24.75 riyals and successfully breaking the 200-day moving average, reflecting a change in the overall performance of its trajectory.
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