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SmarTrend Watching for Potential Rebound in Shares of Ciena Corp After 1.44% Loss

By Shiri Gupta

Ciena Corp (NASDAQ:CIEN) traded in a range yesterday that spanned from a low of $25.26 to a high of $25.72. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $25.45 on volume of 961,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

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 $25.28, which is 44% 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%.

Keywords: rebounders ciena corp

Ticker(s): CIEN