Cisco Shares Lower Following Q4 Results

Better Guidance

Looking ahead, Cisco offered guidance for the current quarter of between $0.80 and $0.82 on 3.5% – 5$ revenues growth. This was slightly above the Wall Street estimate. Although, again, it did little to detract from the final quarter of 2020 marking five straight quarters of losses for the firm.

Cisco Reverses From Resistance Level

(Click on image to enlarge)

cisco shares

The rally in Cisco over Q4 saw price trading up to test the 49.45 level, which has held as support for now. Price has subsequently broken back below the 47.88 level. While below here, a further move lower cannot be ruled out.

However, while price holds above the broken trend line and support at the 45.52 level, the bias is still in favor of continued upside.

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