Cisco Is Targeting $80
Cisco Systems (CSCO) has gained 32% since its April lows, rising to $68.69. Most of the advance occurred in May and June, followed by a period of consolidation. From a technical perspective, the rally appears ready to resume at any moment. Prices have consistently held above the midpoint of the ascending channel for the past 15 weeks, without a single break below it. This sustained strength suggests that another upward move is the more probable scenario. I plan to buy in the $68–70 range, targeting $79–81, just below the major resistance area, with a stop-loss placed at $58.
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