Although the short term signal is SHORT, look for a reversal to LONG around $31.
When using Modified Pitchforks, it's important that the projected lines provide multi-sigma coverage of the linear regression slope. In the case of CIEN, a Modified Pitchfork from the 2017 lows provides almost perfect symmetry and gives the trader several levels to trade Ciena. ...
CIEN is getting closer the the uptrending support, it has bounced on this support multiple times and has followed this pattern the whole entire time.
I'll be keeping an eye on this one, I will be looking to take a position if the stock reacts nicely to the support, hopefully in the 36,5 ish area
CIEN announces earnings on 8/31 (Thursday) before market open.
Due to the size of the underlying, I would probably go short straddle or iron fly here, as a short strangle and/or iron condor really don't pay.
The Sept 8th 24 short straddle is currently paying a 2.35 credit at the door with break evens wide of the expected move, while the Sept 8th...
From a technical standpoint Ciena is in a buy zone reaching the ascending trend line which has been tested twice in the past.
We should see a move back up from $22.5 - $23 towards previous highs of $26 in the short term.
Yesterday we saw double the usual volume with a doji formed. This shows a battle between buyers and sellers. Price has dropped today but I...