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Ciena Falling Today on Above-Average Volume (CIEN)

By Amy Schwartz

Shares of Ciena are trading today in above average volume, with the share price falling 9.1% to $23.80. Today's volume of 4.6 million shares tops the average 30-day volume of 2.8 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that subscribers consider buying shares of Ciena on November 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.34. Since that recommendation, shares of Ciena have risen 22.6%. We continue to monitor CIEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Ciena share prices have been bracketed by a low of $15.62 and a high of $26.84 and are now at $24.40, 56% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.9%.

Keywords: unusual volume Ciena

Ticker(s): CIEN