Just a very quick comment on CIEN stock price mvt:
Momentum in the stock price is essentially flat, ie no mvt either way over last 7 trading sessions or so.
MACD Fast, Slow, and Signal periods set at 12, 26, and 9 respectively, indicate convergence possible on the upside over the next 5 days.
Overall, it appears that we have resistance at 42 area, support around 40.
IMO we will retest recent lows (70% liklihood over next 2 weeks, *WAG*) unless some positive development/contract/announcement comes from the company. In the short run, WS likely sees CIEN as lukewarm, at least until some positive news comes about. If/when that does happen, we may see a short term jump to 46-48 range, fading back to 46.
Clarification requested: I understand that CIEN 'Asian exposure' is neglegible -- is that correct?
Comments please. |
