Jim Cramer on Cisco: “Regretfully Sold, and I Wish I Hadn’t”

Cisco Systems, Inc. (NASDAQ:CSCO) was one of the stocks on which Jim Cramer shared his take, explaining that dot-com analogies do not hold up in this market. Cramer expressed regret over selling the stock, as he commented:

Next is one that I regretfully sold, and I wish I hadn’t. It’s called Cisco Systems, which is more networking than cybersecurity, but it’s in the business, and it’s a top-five holding of the CIBR ETF… Now, more importantly, Lang notes that Cisco’s been chugging ahead like a freight train. Look at this freight train, man, this thing is just incredible, with a rapid series of higher highs and higher lows, and it’s been rallying on very strong volume…

Now, when you look at the relative strength index, the RSI… this is an important momentum indicator too, it’s flirting with overbought levels… meaning Cisco may have come up too far, too fast, but Lang points out that stocks can stay overbought for a long time. At the same time, we’ve seen a huge surge in the Chaikin Money Flow…

…Right now, Cisco trades in the high $90s, and Lang sees it clearing $100 real soon, likely on the way to $110. Keep in mind, though… Cisco reports on Wednesday, just made a new all-time high today. You might want to wait for a better entry point. I’m hoping it posts a quality set of numbers and sells off anyway. Wouldn’t be the first time for Cisco. That might be a good chance to jump on.

Stock market data. Photo by Alesia Kozik on Pexels

Cisco Systems, Inc. (NASDAQ:CSCO) creates networking, security, and collaboration tools that help organizations stay connected and protected.

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