SAN JOSE, CA – Networking giant Cisco Systems Inc. (CSCO) provided a powerful bullish signal for Wall Street on Wednesday, not only rallying throughout the day but surging even higher in post-market trading to break a key resistance level. This display of strength suggests the market is poised to open with significant upward momentum on Monday.
Cisco finished the official trading session at
1.19 (1.75%). The stock demonstrated remarkable strength from the opening bell, trading higher throughout the day and never dipping below its opening price of $68.18. It closed near its session high of $69.47, just shy of its 52-week high of $69.55.
However, the real story unfolded after the market closed. In after-hours trading, Cisco shares continued to climb, reaching $69.81. This move is critically important as it pushed the stock decisively past its 52-week high, a significant technical milestone that often precedes further gains.
Outlook for Monday:
Based on this powerful price action, the market is set to open higher on Monday.
Cisco’s performance exhibits all the hallmarks of a strong bullish trend. The stock:
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Rallied consistently throughout the regular session.
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Closed at the peak of its daily range.
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Broke through a major resistance level (the 52-week high) in after-hours trading.
This after-hours breakout is a clear indication of high investor conviction and an eagerness to acquire shares, even at higher prices. When a blue-chip, bellwether stock like Cisco shows this kind of strength heading into a holiday weekend, it reflects broad confidence in the tech sector and the overall economy. Investors should anticipate this positive sentiment to carry over, likely leading to a strong opening and a bullish session on Monday.
