CIEN – Ciena – continuing the breakout from yesterday. Long term resistance is above in the 28 zone.
Below are the notes from yesterday:
We posted the weekly chart this morning and bought a test position on this move.
Notes from this morning’s post:
Can this communications network equipment and solutions provider breakout of this long term base? Other fiber optic setups are also in the works right now.
There seems to be some volume accumulation signs in the base and earnings are due at the end of August – 8/30/2017
On a historical note, back in the year 2000 CIEN was trading at $896 a share.
more Ciena coverage
Here’s the daily chart for the fiber optic stock:
At Trading Room we search for the biggest winning stocks in the market today.
We use market timing, industry group selection, and chart patterns with price and volume analysis.