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Nearest Resistance: $18.50
Nearest Support: $17.50
Catalyst: Analyst Upgrades
It's been a rough couple of quarters for
Cisco Systems(CSCO - Get Report). Shares of the IP networking firm have fallen more than 12% in the last six months, shoved lower by earnings misses and slipping sentiment among investors. But thanks to analyst upgrades at
Goldman Sachs (GS) and Piper Jaffrey, the stock is finally getting some love again.
>>5 Blue-Chip Stocks Ready to Boost Dividends
Shares are up more than 2% on the news, pushing their way into a void on Cisco's price chart from where shares gapped down in May. While a tenuous grasp on newfound support at $17.50 is a good thing, investors should be looking at Cisco as a high-risk, limited-reward trade right now.
Earnings are slated for Aug. 15, an event that adds considerable risk to a Cisco trade right now. Sure, earnings could surprise Wall Street and shares of CSCO could soar; but that's not a high-probability trade.
I'd avoid this stock until one shows itself.
For another take on Cisco, it shows up on a recent list of
5 Dividend-Paying Stocks for the Next Decade.