Shares of Cisco Systems (CSCO) are falling sharply on the back of weak guidance. With the stock down almost 12% on the day, investors are running scared.
Based on technical analysis, Cisco Systems' target price is revealed. As a technical trader, I have connected the pivot lows going back to 2011. There is a major trend line of support that stretches all the way to the pivot lows from March 2020. This trend line gives investors and traders the Cisco Systems target price of $34.00.
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