Old tech laggard CSCO has just broken out.
One successful strategy to keep risk low is to buy laggards in strong sectors. Technology is a strong sector and CSCO is a laggard. The chart shows that it has done almost nothing during this bull market.
The technical breakout is occurring after the earnings report showed signs of renewed growth.
Buy zone is $34 to $36.36, preferably below $34.78. First target zone is $40. to $42. Second target is $46 to $50. This stock also offers 3.41% yield and is attractive for income investors.
