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Ciena Corp Set to Possibly Pullback After Yesterday's Rally of 1.06%

By Amy Schwartz

Ciena Corp (NYSE:CIEN) traded in a range yesterday that spanned from a low of $33.95 to a high of $34.66. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $34.33 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Ciena Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ciena Corp in search of a potential trend change.

In the past 52 weeks, shares of Ciena Corp have traded between a low of $22.99 and a high of $45.70 and are now at $34.40, which is 50% above that low price. The 200-day and 50-day moving averages have moved 0.47% higher and 1.65% lower over the past week, respectively.

Keywords: rebounders ciena corp

Ticker(s): CIEN