CISCO set for market volatility
Updated
Cisco Traders Prepare for Earnings Results Today; EPS of 1.03 Expected
Cisco (CSCO) is a global networking infrastructure manufacturer. The company is set to open today's session at 53.37 after closing yesterday at 53.17, gaining 94 cents (1.8%).
Cisco traded 112% more shares than its average daily volume of 16.20 million shares.
Cisco's Recent Performance and Market Cap
Cisco has gained 2% in the previous 5 days.
It has outperformed the Nasdaq by 26.14% so far this year in terms of returns.
Cisco currently has a market cap of $215.37 billion.
Technical Outlook
Cisco bulls are looking to push the stock past a key resistance level at 53.54 as the next upside milestone if they maintain their dominance. In the short term, a break above this level could open up a new path for further gains towards 53.90 and 54.80. Cisco is also approaching a significant Bollinger Band® level at 53.75, which adds to the bullish sentiment building around the stock.
The uptrend for Cisco has seen its share price rise 2.25% over the past four days, and it is expected to continue with a further 94 cents, or a 1.8% rise today.
Analyst Opinion
Despite its strong performance in the current session, Cisco remains rated as a "Strong Sell" by analysts. However, the stock has outperformed the Nasdaq by 26.14% this year
Cisco (CSCO) is a global networking infrastructure manufacturer. The company is set to open today's session at 53.37 after closing yesterday at 53.17, gaining 94 cents (1.8%).
Cisco traded 112% more shares than its average daily volume of 16.20 million shares.
Cisco's Recent Performance and Market Cap
Cisco has gained 2% in the previous 5 days.
It has outperformed the Nasdaq by 26.14% so far this year in terms of returns.
Cisco currently has a market cap of $215.37 billion.
Technical Outlook
Cisco bulls are looking to push the stock past a key resistance level at 53.54 as the next upside milestone if they maintain their dominance. In the short term, a break above this level could open up a new path for further gains towards 53.90 and 54.80. Cisco is also approaching a significant Bollinger Band® level at 53.75, which adds to the bullish sentiment building around the stock.
The uptrend for Cisco has seen its share price rise 2.25% over the past four days, and it is expected to continue with a further 94 cents, or a 1.8% rise today.
Analyst Opinion
Despite its strong performance in the current session, Cisco remains rated as a "Strong Sell" by analysts. However, the stock has outperformed the Nasdaq by 26.14% this year
Note
R3 54.80R2 53.90
R1 53.54
S1 52.64
S2 52.10
S3 51.20
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