...after almost 2 decades of bottoming process (basing pattern) are you able to hold on for another 4 days (for the month to end and the candle to close/be completed) before acting ?
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems and operating system software. The Packet Networking...
$CIEN - Clear breakout of flag pattern. I'll be entering after the open with stop below the local low price around $40. I think it could hit $57.00 by the end of the year.
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CIEN -- larger WEEKLY channel view! There is room upwards for 19.50% gains.
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CIEN --- potentially moving up soon! Reversal of trend happening very possibly as it reached the bottom of my 2HOUR channel that I see. It took a healthy 3% downward pull which just took place today... Lets see if it plays out in terms of reversing soon upwards... Thank you.
Stay tuned...
Notes:
▲ (19.54% Upside)
Based on 13 analysts offering 12 month price...
Ever since CIEN's explosive Power Earnings Gap on 12/12/2019, CIEN has been consolidating into a tight flag pattern on the daily chart. CIEN may need a couple more days to setup, however I am entering this trade with a stop loss below the previous higher low incase CIEN wants to take off tomorrow.
Entry - 42.52
Stop loss - 41.70
Target 1 - 44.00
Target 2 - 46.00
Testing a previous low— cien recently busting out with nice volume purchase as it shot upwards— now some room to grow within the channel is still visible. Will it continue up? I think so... for now. It has a 17% upside to go to the $50 average target rating it received. Strong buy rating —Given from 11 analysts. (It has seen a rocky past... so be careful as it...
In life there is always a but and although Ciena is a downtrending stock on the lower timeframe, the weekly larger timeframe suggest otherwise. First, the uptrend line is still intact and the demand zone level confluence with the 88.6% Fib retracement level of the immediate range. Therefore have patient and wait for the market to unfold itself =)
Beta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
See chart for explanation
As you have seen, it did not touch the support at 32.79 and this gap down between 35.07 and 35.92 and end with a bullish hammer candle could signify a possible trend reversal.
If the gap is closed next week, then it confirms a trend reversal else it might goes further south.
Let's see how it plays out next week.
They beat last quarter and got hammered because they said margins were going down slightly this quarter. What's 1% margin on an expanding company with 25 trailing P/E?
Expecting CIEN to beat again, using this market tank to start a position, next week's calls.
If the market continues to tank, there is a chance it goes to $33 support. Leave some room to add.
