Trade of the Day: Cisco Systems, Inc. (CSCO)

Advertisement

To receive further updates on this Cisco Systems, Inc. (NASDAQ:CSCO) trade as well as an alert when it’s time to take profits, sign up for a risk-free trial of SlingShot Trader today

Cisco Systems, Inc. (NASDAQ:CSCO) has been consolidating for nearly a month but has now completed a bullish flag continuation pattern. We expect the stock to continue climbing up past its previous resistance level at $34.50 (which was first established in February and then hit again in May) on its way to new 52-week highs in the run up to the company’s earnings announcement on November 15, after market close.

Cisco Systems has been making important strides in cloud computing and artificial intelligence — two hot-topic segments on Wall Street — with its Growth Software portfolio. After having devoted a lot of capital to R&D, we expect those strides to start materializing in higher bottom-line earnings this quarter.

‘Buy to open’ the CSCO December 35 Calls (CSCO171215C00035000) for a maximum price of $0.65.

Follow our Facebook page to receive each Trade of the Day direct to your News Feed — and join the conversation.

You can learn more about identifying price patterns and using them to project how far you think a stock is going to move in our Advanced Technical Analysis Program.

InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by clicking here.

Most recently, John and Wade are co-options strategists of Turbo Trader Live — a live, interactive trading room service that runs two hours every trading day the market is open. Turbo Trader Live focuses on long call and put options, as well as long and short vertical spread strategies. Find out how to get in on the live trading action and start making real profits by clicking here.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/trade-day-cisco-systems-inc-csco/.

©2024 InvestorPlace Media, LLC