Cisco Systems, Inc. (CSCO) pivot & Support Levels - 5/10/2012
Resistance levels: $19.36, $19.12, $18.95
Pivot Point: $18.71
Support levels: $18.54, $18.30, $18.13
Share of Cisco Systems, Inc. (CSCO) FQ3 EPS of $0.48 beats by $0.01. Revenue of $11.59B (+6.6% Y/Y) beats by $20M. Commentary is downbeat, with Cisco noting weak Euro and public sector spending. Service provider orders +5% Y/Y, but enterprise orders -1%. Longer sales cycles and smaller deal sizes are being seen. FQ3 switch sales +5%, but router and collaboration (VoIP, telepresence, etc.) sales were flat. Asia-Pac is an area of strength, but China orders -8% Y/Y. Wireless and servers are growing quickly, but are still a small % of sales. CSCO -9.2% AH.CSCO will have resistance around $19 and followed by $20.Cisco Systems is a strong buy below $15 share for long term buy list for 2012 because this stock will be come just need patience.But stock will stay this range long term.I am looking for next 12 months $24-$25 price target.This is my one of the Top Pick for 2012.
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