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Bearish Moving Average Cross by Ciena Corp (CIEN)

By Amy Schwartz

Ciena Corp (NASDAQ:CIEN) crossed under its 10-day moving average of $25.56 on a volume of 428K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Ciena Corp have traded between a low of $17.59 and a high of $27.98 and are now at $25.45, which is 45% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.6%.

SmarTrend recommended that subscribers consider buying shares of Ciena Corp on May 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.88. Since that recommendation, shares of Ciena Corp have risen 7.5%. We continue to monitor CIEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ciena corp

Ticker(s): CIEN