Cisco earnings preview
Gary Christie August 11, 2020 3:56 PM
Will Cisco start a new trend after earnings Wednesday?
On Wednesday August 12th, Cisco (CSCO), a leading global supplier of network hardware and software, is expected to announce 4Q EPS of $0.74 compared to $0.83 last year on sales of $12.1B vs $13.4B a year ago. The expected move after earnings is up or down 5%. CSCO jumped 4.5% after the last earnings report. The Bloomberg analyst consensus report is slightly mixed with 14 Buys, 13 Holds and 2 sell recommendations.
Looking at "TC Market Buzz" inside the market analysis tab, Cisco has below average news volume leading into earnings however the news bias has been largely positive at 91% with the majority of discussions involving the companies expected earnings.
Source: TC Market Buzz
From a technical point of view, CSCO has posted a strong rebound off of March lows near $32. Key overlap resistance is set at $50.25 with Support at $43.50. Traders will be looking for a break above or below these key levels. A break above Resistance would give a target of $54 on the upside to meet the next resistance level from June of 2019 while a breakdown would indicate next major support at $40.50.
Source: GAIN Capital, TradingView
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.