tsla

Cisco Systems Stock Crumbles on Forecast

CSCO also received a slew of price-target cuts

Deputy Editor
Nov 16, 2023 at 10:33 AM
facebook X logo linkedin


Cisco Systems Inc (NASDAQ:CSCO) stock is staging a steep bear gap today, despite the software concern's strong fiscal first-quarter results, as the company's current-quarter and full-year guidance weigh. Plus, no fewer than 10 analysts slashed their price targets after the earnings event, with the lowest from Barclays to $46 from $53. 

At last glance, CSCO was down 11.4% at $47.21, and trading at its lowest levels since May. The sharp move lower also has the stock firmly below all notable short- and long-term moving averages between the 20- and 320-day trendlines, including former support at the 200-day trendline. On the short sale restricted (SSR) list today amid the volatility, CSCO has also moved into negative territory in 2023. 

Unsurprisingly, options traders are blasting CSCO stock today. So far, 85,000 calls and 97,000 puts have been exchanged, which is already 3.9 time the average daily options volume. The January 2024 45-strike put is the most popular, followed by the November 47 put, with new positions being opened at the latter. 

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.