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 believe this is the final push before a move higher.
If price breaks the ascending trend line we shall see the next support level at $21.
My target is $27 which is the high from March 2014.
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 believe this is the final push before a move higher.
If price breaks the ascending trend line we shall see the next support level at $21.
My target is $27 which is the high from March 2014.