Cisco shares plunged to the bottom of 46.30, ending the sideways movement in which it has been moving in the past two weeks. The stock dropped above support at 50% Fibonacci retracement and then next support at 61.8%. This is under the negative impact of moving averages that move above the price and push it down.
Steady trading below the 61.8% Fibonacci retracement is a key factor to start the course
A bearish condition on which the price manages to breach 46.30 support.
The stochastic is in a sideways path that tends to rise and tries to push the price off the support level.
Overall trend: Bearish.