Cisco Systems Inc. $CSCO was bullish in early 2019, then consolidated from April through July before falling sharply in August.CSCO Daily Chart(click to enlarge)Bears in Charge:- As we can see on the daily the bearish correction in August was significant in that it broke a couple of key support pivots at $54-$55 area another around $51-$52 area. - After finding support at $46, it consolidated and rebounded a bit.- However note that a previous support pivot has turned into resistance. - The RSI is held under 60 and price is under the cluster of moving averages, most importantly the 200-day SMA.- These are signs that bears are still in charge. - Price action during the 9/24 session was also indicative of the bearish nature of this chart. - If CSCO does fade back to $46, I would suspect even more downside. - I would be comfortable to start adding exposure at $44 down to $40 as this represents the 2019 lows and a common support area going back to April 2018.- Finally, note that relatively strong volume has accompanied a couple of bearish swings and not a bullish one. That one we saw from Friday had some volume, but did not push price above $50, which could also be interpreted as a bearish sign.- Cisco might be a long-term buy the dip candidate (medium-term downside risk). But for now, we should anticipate more downside.