Today’s DailyPlay is Cisco Systems, Inc. (CSCO). CSCO is part of the Technology Sector (XLK). XLK is up 3.14% in the last month and is bullish on the 6-month trend indicator and neutral on the 1-month trend indicator as it bounces off its $42.44 support level.
CSCO is an American multinational corporation that designs, manufactures, and sells networking equipment. The stock is part of the Dow Jones Industrial Average, the S&P 500, the Russell 1000, the NASDAQ-100 and the Russell 1000 Growth Stock indices.
Cisco Systems, Inc. has been bullish on the 6-month trend indicator since February and the 1-month trend indicator returned to bullish. With a strong technical score of 8 (out of 10) and CSCO showing positive momentum as it bounces off its $28.63 support level, we are looking for CSCO to continue its trend higher.
We are implementing a stop loss at $28.63 as a move below this support level that would invalidate our analysis.