From a technical perspective, Cisco $CSCO Systems (CSCO) is looking like an interesting pick, as it just reached a key level of support. CSCO recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
Good things could be on the horizon when a stock surpasses the 50-Day simple moving average. How should investors react?
From a technical perspective, Cisco $CSCO Systems (CSCO) is looking like an interesting pick, as it just reached a key level of support. CSCO recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
Over the past four weeks, CSCO has gained 5.5%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case only gets stronger once investors take into account CSCO's positive earnings estimate revisions. There have been 6 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CSCO for more gains in the near future.
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Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
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