Referring to Cisco Systems (CSCO) , Jim Cramer told a caller during Monday's "Lightning Round" segment of Mad Money that "I think they're going higher."
Let's check and see how the charts and indicators look now.
In this updated daily bar chart of CSCO, below, we can see that prices have been strong since late February. CSCO is trading above the rising 50-day moving average line as well as the rising 200-day line.
The daily On-Balance-Volume (OBV) line continues its rise from November and the Moving Average Convergence Divergence (MACD) oscillator is above the zero line but now crossing to a take profit sell signal.
In this weekly bar chart of CSCO, below, we can see a positive picture. Prices are in an uptrend above the rising 40-week moving average line. CSCO has broken out over the highs of 2020.
The OBV line has not broken its 2020 high but it is pointed upwards. The MACD oscillator is in a bullish alignment above the zero line.
In this daily Point and Figure chart of CSCO, below, we can see a strong rise and a potential $69 price target.
Bottom line strategy: Continue to trade CSCO from the long side, raise stop protection to $45. The $69 area is our price objective for now.
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And if you feel that volatility is an asset class that has a place in your strategy there are 2 funds that may be worth a closer look.
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