Cisco shares test support levels

Cisco Holding Company’s stock has experienced a decline in its technical performance, currently heading to test important support levels and key moving averages, especially at the support level of 36.90 riyals. The decrease in buying momentum and the fluctuation in trading volumes reflect a selling pressure, with the possibility of further decline toward 36.00 riyals if the current support level is broken. Conversely, the likelihood of regaining positive momentum remains if the stock manages to trade above 37.96 riyals, which could signal a reversal to the upside after its downward performance that began last year and reached a strong support level of 25.20 riyals in March, where trading activity increased. Analysts expect close monitoring of liquidity levels, with a particularly important resistance at 46.45 riyals to determine its medium- and long-term stabilization path.

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