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Bearish Moving Average Cross by Ciena Corp (CIEN)

By David Diaz

Ciena Corp (NYSE:CIEN) crossed under its 10-day moving average of $26.18 on a volume of 1.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Ciena Corp share prices have been bracketed by a low of $17.59 and a high of $27.98 and are now at $25.95, 48% above that low price. The 200-day and 50-day moving averages have moved 0.85% lower and 1.62% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Ciena Corp on January 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.71. Since that recommendation, shares of Ciena Corp have risen 18.3%. 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