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Watch for Ciena Corp to Potentially Rebound After Falling 1.44% Yesterday

By David Diaz

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.

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 last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.6%.

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.

Keywords: rebounders ciena corp

Ticker(s): CIEN