Cisco shares are trading at a 2.2% discount , a 2-month high since November 8th, continuing an uptrend from early December. At the end of 2019, the instrument added more than 10%. Earlier, Barclays analysts raised the recommendation on the issuer’s shares, betting on the company’s new product line. Over the past week, Cisco shares fell by 0.23%. The S&P 500 index for the same period increased by 1.07%.
American investors still remain poor in the market due to the Christmas and New Year holidays. Traders expect the imminent signing of the first phase of a trade transaction between the United States and China. According to statements by President Donald Trump and sales representatives Robert Lighthizer, the legalization of the document may take place in early January. Representatives of the Chinese government did not specify exact dates but confirm that they are in constant contact with representatives of the United States.
During the day, data on incomplete sales in the US real estate market will be published. It is expected that in January, the indicator will grow by 1.2% after falling by 1.7% a month earlier, however, the market reaction due to the ongoing holidays is expected to be insignificant.
Today, oil quotes are growing. The price increase is the result of a set of positive factors. Investors are still waiting for the signing of a deal between the PRC and the United States, which could help increase energy demand. US aircraft attacked Hezbollah’s pro-Iranian forces in Syria and Iraq, which could lead to increased tensions in the Middle East. The latest EIA report recorded a serious decline in oil reserves – by 5.474 million barrels. At the same time, distillate stocks decreased by 0.152 million barrels, while gasoline stocks increased by 1.963 million barrels.
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Cisco Stock Support and Resistance
The company’s shares began to recover after a long fall and updated local highs. The issuer is currently consolidating. The key range is 46.00–49.00. There is potential for further correction. Indicators do not give accurate signals: price crossed MA (200); the MACD histogram is near the zero line. It is better to open the positions from the key levels. A comparative analysis of the multiples of the company and competing companies indicates the underestimation of #CSCO.
Resistance levels: 49.00, 50.50, 53.00.
Support levels: 46.00, 43.40, 42.00.
Cisco Stock Trading Ideas
Long positions may be opened after the price consolidates above the level of 49.00. The closing of the profitable positions is possible at the levels of 51.00, 53.00 and 54.50. Stop loss – 47.00. Short positions may be opened after the price consolidates below the level of 46.00 with the targets at 43.00–41.00. Stop loss – 48.00. Implementation period: 3 days.
Cisco Stock 1 Day Moving Averages
Name Value Action
Exponential Moving Average (5) 47.62 Sell
Simple Moving Average (5) 47.81 Sell
Exponential Moving Average (10) 47.19 Buy
Simple Moving Average (10) 47.35 Buy
Exponential Moving Average (20) 46.59 Buy
Simple Moving Average (20) 45.85 Buy
Exponential Moving Average (30) 46.42 Buy
Simple Moving Average (30) 45.62 Buy
Exponential Moving Average (50) 46.64 Buy
Simple Moving Average (50) 46.36 Buy
Exponential Moving Average (100) 47.82 Sell
Simple Moving Average (100) 47.37 Buy
Exponential Moving Average (200) 48.82 Sell
Simple Moving Average (200) 51.33 Sell
Ichimoku Cloud Base Line (9, 26, 52, 26) 45.89 Neutral
Volume Weighted Moving Average (20) 45.86 Buy
Hull Moving Average (9) 47.91 Sell
Cisco Stock Recommendations
Dec-19-19 Upgrade Barclays Equal Weight → Overweight $53
Dec-12-19 Upgrade Edward Jones Hold → Buy
Nov-14-19 Reiterated BofA/Merrill Buy $62 → $56
Nov-13-19 Resumed RBC Capital Mkts Outperform
Nov-11-19 Downgrade Piper Jaffray Overweight → Neutral $55 → $51
Oct-10-19 Downgrade Goldman Buy → Neutral $56 → $48
Sep-11-19 Initiated Evercore ISI Outperform
Aug-15-19 Reiterated RBC Capital Mkts Outperform $64 → $53
Aug-08-19 Initiated Barclays Equal Weight $52
Jun-12-19 Downgrade William Blair Outperform → Mkt Perform
Feb-12-19 Downgrade Morgan Stanley Overweight → Equal-Weight $49
Dec-14-18 Downgrade Nomura Buy → Neutral
Oct-01-18 Reiterated Piper Jaffray Overweight $50 → $53
May-10-18 Initiated Credit Suisse Neutral $41
May-03-18 Initiated JP Morgan Overweight
May-01-18 Initiated Macquarie Outperform
Mar-16-18 Reiterated Citigroup Buy $46 → $52
Feb-16-18 Reiterated Argus Buy $44 → $50
Feb-15-18 Reiterated Stifel Hold $40 → $46
Feb-13-18 Reiterated Citigroup Buy $40 → $46
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