Cisco Systems (CSCO) has been getting more attention recently. It seems to be fighting all the headwinds other tech companies are fighting: US government restricting tech companies from selling to China, Russia and Belarus for national security reasons, supply chain problems affecting both their suppliers and customers and most importantly changing their focus to this new post-Covid world. Recently on 10/25 Barchart’s Trend Spotter signaled a buy and the stock has gained .36%.
The chart shows CSCO bouncing off a bottom and trading above its 20, 50 and 100 day moving averages.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization. In addition, it provides Internet for the future product consists of routed optical networking, 5G, silicon, and optics solutions; collaboration products, such as meetings, collaboration devices, calling, contact center, and communication platform as a service; end-to-end security product consists of network security, cloud security, security endpoints, unified threat management, and zero trust; and optimized application experiences products including full stack observability and cloud-native platform. Further, the company offers a range of service and support options for its customers, including technical support and advanced services and advisory services. It serves businesses of various sizes, public institutions, governments, and service providers. The company sells its products and services directly, as well as through systems integrators, service providers, other resellers, and distributors. Cisco Systems, Inc. has strategic alliances with other companies. Cisco Systems, Inc. was incorporated in 1984 and is headquartered in San Jose, California. (Source – Yahoo Finance)
Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Analysts and Investor Sentiment – I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:
Value Line is relied upon by many individual investors for reliable and objective data analysis.
Another great source of objective data is CFRA’s MarketScope which is relied upon by many financial analysts and investment advisors. They give the stock their 5 star buy rating.
They are looking for a 12-month price target of $60 or about a 35% gain.
My conclusions: It appears on a technical basis CSCO has bottomed and is beginning to again be noticed by both individual and institutional investors. Buying at this level and keeping trailing stop loses at the 50 day moving average should be a good move.
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