Bullish vs. Bearish (1 opinions)
Social Sentiment 0.00
CIEN Forecast and Technical Stock Analysis
Hold candidate since 2019-12-12 Loss -2.91% PDF
Ciena Corporation fell by -2.91% in the last day ( Friday, 13th Dec 2019 ) from $42.62 to $41.38 During the day the stock fluctuated 6.75% from a day low at $41.19 to a day high of $43.97. The price has fallen in 7 of the last 10 days , but is still up by 9.01% over the past 2 weeks. 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 -12.81 million shares and in total 10.06 million shares bought and sold for approximately $416.33 million.
- 30 day high of the CIEN stock price was $43.97 and low was $33.22.
- 90 day high was $43.97 and low was $33.22.
- 52 week high for Ciena Corporation - $46.78 and low - $30.77.
Ciena Corporation lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $42.58 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.97% during the next 3 months and, with 90% probability hold a price between $32.76 and $40.47 at the end of this period.
Ciena Corporation holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $37.14 and $37.18. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday December 12, 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 80 ]
RSI14 is 66 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Ciena Corporation finds support from accumulated volume at $39.58.
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 $2.78 between high and low, or 6.75%. For the last week, the stock has had a daily average volatility of 5.41%.
Our recommended stop-loss: $39.18 (-5.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 day(s) ago.)
5.41 %Average volatility
Very Low Low Medium High Very High
Ciena Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as hold candidate (hold or accumulate) in this position whilst awaiting further development.
|CIEN $41.38 ($-1.24 -2.91%)|
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