Cisco Stock Plunged Below Its 50-Day Moving Average. Should You Buy the Dip?

Cisco System (CSCO) is dropping today despite posting record revenue for its fiscal Q2 and beating earnings estimates. Investors have been put off by the company’s in-line guidance and a slight decline in non-GAAP gross margin, triggering a selloff that pushed it below its 50-day moving average (MA) on Feb. 12. More News from Barchart While that technical setup signals continued downward momentum ahead, Ray Wang, founder and chairman of Constellation Research, recommends buying the dip in Cisco shares ...