Cisco (CSCO) – Network & Security Uptick – June 2nd, 2020

The bullish DailyPlay for Tuesday, June 2nd is Cisco Systems Inc (CSCO). CSCO has rallied 10.34% in the last month and 1M and 6M turned bullish on May 14th and broke back above its 200-day moving average last Friday. 

Fundamental View

  • Strong portfolio to capture rapid rise in bandwidth and data security needs
  • Huawei’s political issues provide a tailwind for CSCO
  • Earnings August 12th (74 days)

Technical View

  • Recently broke above 200-day MA and pulled back yesterday to provide a good buying opportunity
  • Very strong relative strength score (9 out of 10)
  • Next major resistance level at $50

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