Ciena Corporation Forecast and Stock Analysis
Technical CIEN stock analysis for March 18, 2019.
|Shorts||2.73% ( 2019-02-28 )|
Ciena Corporation fell by -0.79% in the last day from $39.43 to $39.12 The price has fallen in 7 of the last 10 days and is down by -8.6% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.41 million shares and in total 2.72 million shares bought and sold for approximately $106.52 million.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the CIEN stock was $39.12. This is 0.79% less than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 2.40% from a day low at $38.78 to a day high of $39.71.
30 day high of the CIEN stock price was $45.70 and low was $37.69.
90 day high was $45.70 and low was $30.77.
52 week high for the Ciena Corporation - $45.70 and low - $22.99.
Ciena Corporation has broken the wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $39.25. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. Ciena Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $39.47 and $40.05. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday March 11, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 24 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Ciena Corporation finds support from accumulated volume at $38.69.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.93 between high and low, or 2.40%. For the last week, the stock has had a daily average volatility of 1.72%.
Ciena Corporation is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Evaluation: Sell Candidate
The Ciena Corporation stock holds several negative signals and despite the positive trend we believe Ciena Corporation will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.