My firm, Asbury Research, has been closely tracking Cisco Systems since 2014 for a number of reasons, including its relatively large market cap, comprising 3.5 percent of the technology sector, and its positive correlation to the Nasdaq 100.
Back in November, after an interview I was part of during a "Talking Numbers" segment for CNBC's "Street Signs," I highlighted my positive outlook for Cisco, along with a potential targeted move of $32 by the middle of 2015.
Subsequently, the tech giant rallied 21 percent to a high of $30 on March 2.
Since reaching that level, however, the stock has been stuck in neutral territory.
Here's how you should trade the stock now.