CSCO – Cisco Systems Incorporated
CSCO – Cisco Systems Incorporated
Old school tech goes out to new all-time highs.
Date: 23 June 2026
Sector: Electronic Technology / Telecommunications Equipment
Exchange: NASDAQ
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Opening/macro/sector context
Cisco is one of those old darlings of the first tech boom in the late 1990s and early 2000s, and now it looks like it has come back into fashion.
Just like with all markets, Cisco is a good reminder that these things come in waves.
When the wave does come in, it can come in pretty hard once capital rotates back into a sector.
Although Cisco is not necessarily a direct AI stock, I am sure it has some AI offerings and exposure.
For me, though, this is more of a network play.
It is more about the build-out of data centres and the connectivity between all the equipment required to host these services in the cloud.
So, rather than being the obvious AI front-end name, Cisco sits more in the infrastructure and networking layer that supports the wider technology build-out.
Long-term structure
Looking at the price ramp-up on the 3-month chart, Cisco first floated at around $0.07 in January 1990.
So this is a case of what can only be described as a micro stock becoming one of the great American technology behemoths.
Had you held from the float until today, you would be looking at roughly a 14,000% return.
I doubt there are many people who actually did that, especially given what happened in the early 2000s.
Cisco topped out around $82, and after that, the stock entered a very long period of consolidation.
It now looks as though Cisco may get the chance to live through two major tech booms.
This time, the additional tailwinds are reshoring, bringing data centre infrastructure and technology capabilities onshore, the promotion and subsidising of American champions, and a move away from reliance on foreign adversaries that may not have our best interests at heart.
On the longer-term structure, I have marked out a couple of key lines and areas.
The previous all-time high peak around $82.90 is marked out with the yellow line.
We can see that Cisco has punched through that level this quarter.
I have also marked out two pink boxes, which show large periods of consolidation in the stock.
The first one came after the original tech bubble blow-off.
That makes sense, because Cisco ramped all the way up towards $80 and then moved sideways for years, right up until July 2013.
The second pink box marked another long sideways period, and that finally ended in October 2025.
That breakout has now allowed Cisco to move back towards fresh all-time highs.
Lower timeframe / recent structure
Looking at the lower timeframe and recent structure, the setup becomes particularly interesting.
Drilling down to the 4-hour chart, Cisco has just turned blue again.
What particularly attracts me to this stock is that the gap below $113 appears to be holding.
Cisco has now been trading above that gap for approximately five weeks.
The new support level now seems to have moved below the yellow candles around $117.
So, we may be seeing a higher support level starting to form.
It is not perfect by any stretch.
There has been some structural damage on the 4-hour timeframe, so the setup is not as clean as some others.
What I really want to see now is a move above $125, which I have marked out on the chart.
A break above that level would confirm to me that Cisco is likely moving up towards $130 and then potentially out to fresh all-time highs.
Entry trigger:
Usual entry trigger is one of two things:
Three clean closes above the last breakout of the pink box.
A breakout of the pink box, followed by a pullback to touch the top of the box, and then a move higher.
For Cisco specifically, I want to see the price break above $125.
That would give more confidence that the stock is moving towards $130 and potentially into fresh all-time highs.
Initial stop loss:
Last 4-hour swing low.
Multi-timeframe correlation:
3M: Blue candle
1M: Blue candle
1W: Blue candle
1D: Blue candle
4H: Blue candle, having just turned blue from grey
When should I tighten the stop-loss?
Tighten the stop-loss as new 4-hour swing lows form and the stock continues to move higher.
When do I add to the position?
The best way to add to the position is on a pullback from a yellow-to-blue candle or a grey-to-blue candle, as price starts to move back up and attempts to break out again.
Potential target range:
The activated price target is currently pointing lower, with potential for an 11% correction.
So at this stage, the upside target is less clear, and the trade needs confirmation through a clean move above $125.
Activated price targets:
1
Am I in this trade?
No
Current R multiple:
0R
Reminders
Cisco is an old-school tech name that appears to be coming back into favour.
The gap below $113 is holding, and support appears to have moved higher towards $117.
The key level to watch now is $125.
A clean break above $125 would suggest a move towards $130 and potentially fresh all-time highs.
However, the activated price target is currently showing downside risk, so wait for confirmation before taking the trade.