Cisco Systems, Inc. (CSCO)

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Our View

Cisco is a major American technology conglomerate based out of Silicon Valley. It specializes in making networking equipment, telecommunication gear, software, and other high-tech products. Cisco has expertise in strategic growth areas like the Internet , domain security, and energy management. A lot of Cisco’s equipment is mission-critical and hence, switching costs for its customers are high. Cisco is a dominant player in networking equipment and its long term prospects are bright in an increasingly digital world.

The long-term monthly chart of Cisco clearly shows an uptrend. This uptrend peaked around May-June of 2019 before falling 30%. The price went below an important support level at 40 in March and April of 2020. Since then, the stock has bounced back from the bottom of the long-term trend by 15%. The price has also crossed above the support level at 40. The next target looks likely to be around 60, which is close to the top of the long term trend. A long position can, therefore, be initiated with a stop loss below 37.

 Positions taken today  at $45.96  with stop loss 20.58% below at $36.50. Short term profits could  be taken at $60 yielding a profit of 30%.