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Watch for Ciena Corp to Potentially Pullback After Gaining 1.06% Yesterday

By Shiri Gupta

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.

Over the past year, Ciena Corp has traded in a range of $22.99 to $45.70 and is now at $34.40, 50% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 1.7%.

Keywords: rebounders ciena corp

Ticker(s): CIEN