Cisco Systems Inc. (CSCO) has been basing the past six months or so and its upcoming quarterly results are due to be released after the market close Wednesday. Let's check the charts to see if traders are taking a bullish stance ahead of the Action Alerts PLUS holding's fiscal second-quarter numbers.
In the daily bar chart of CSCO, below, we can see that prices have traded sideways since August. CSCO is trading between the rising 50-day moving average line and the declining 200-day moving average line.
The daily On-Balance-Volume (OBV) line has been firming since early October and tells us that the buyers of this tech company have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator made its low back in late August and has been improving since then. The indicator is now above the zero line in positive territory.