CISCO STOCK RISES AHEAD OF EX-DIVIDEND DATE
Cisco Systems’ stock is currently trading at 55.54-higher by 1.46% as compared to the previous closing price.
The company’s stock will begin trading ex-dividend from tomorrow. A cash dividend payment of 35 cents a share will be paid on 24th July. Investors who bought Cisco Systems stocks before the ex-dividend date are eligible for the cash dividend payment.
The current dividend payment represents around 6% increase as compared to the previous dividend payment. Cisco Systems had reported its third-quarter earnings on 15th May that was above the market expectation. Stocks of the company have rallied about 32% so far this year.
On the technical front, the RSI is currently at 50.53% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is below the middle line of the Bollinger bands but is heading upwards.
TRADE SUGGESTION- STOP BUY AT 55.60 TAKE PROFIT AT 56.10 STOP LOSS AT 55.35