Cisco (CSCO) Gains On Positive Expectations, Competitors Disappoint
Cisco is forecast to deliver a year-on-year increase in Q1 earnings, even though disappointing returns from competitors such as Brocade Communications Systems Inc. and Juniper Networks Inc. have led to macroeconomic concerns about the networking sector and enterprise tech demand in general. Analysts expect Cisco’s strong execution and product cycle to provide a buffer in a soft spending environment, especially in the enterprise market. On the H1 chart, the stock inched up slightly to 26.65 during closing hours, yet down by 1.19% for the whole trading session. RSI is moving sideways around 45.13, indicating an unclear direction at the moment.
Sell at 26.61, Stop loss at 26.72, Take profit at 26.41