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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.
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