Cisco Systems Inc. (NASDAQ: CSCO), a designer, manufacturer and seller of network equipments, is marginally higher in mid-day trading today. At last check, CSCO was trading 0.27% higher at $20.40 on volume of 11.17 million, which is below the daily average volume of 38.20 million.
CSCO is gaining after RBC Capital analyst Mark Sue upgraded the stock to Outperform from Sector Perform. Sue also raised his price target on CSCO from $21 to $24.
CSCO has had an excellent run in the last two months. The stock saw a brief pullback couple of weeks ago after hitting $20.50 resistance level. However, it has recovered this week and is now approaching $20.50 level again. If CSCO breaks through this level then the upward trend will continue.
Intel Corporation (NASDAQ: INTC), a designer and manufacturer of integrated digital technology platforms, is lower in mid-day trading today, reversing some of the gains from earlier in the week. INTC had rallied in the last two trading sessions, tracking gains in the broad market.
INTC is currently trading 1.03% lower at $21.16 on volume of 11.58 million, which is nearly a quarter of the daily average volume of 47.58 million. Despite the losses, INTC is still up more than 4% in the last three trading sessions. INTC has support at around $21. If the stock falls below this level then the next support level is at $20.50.
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