Expected to report an EPS of $1.03 on revenue of $14.62bn

Taking a look at Cisco ahead of its earnings tomorrow. Currently, its stock is trading at around $52.39 a share. We can see that the price has been creating higher lows followed by higher highs, and the current retracement back towards the supportive trendline may in fact be the next higher low. However, the earnings report will either be the catalyst for this bullish continuation, or it will be the wedge in the halt. Support sits comfortably along the trendline at $50.63, a break and close below this level could then see a move lower towards $46-$47 a share. Towards the upside, the first level of resistance can be found at $53.49 then at $53.88 and then at $54.58. A break and close above $54.58 may see an extension back towards this year’s high of $58.17. Heading over to the technical indicators, the MACD continues in the bearish tone but the volume hasn’t enlarged as of yet, and the RSI is neutral reading 49.