Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for March 30 2006
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| STOCK: CIENA (CIEN) |
WEBSITE: www.ciena.com |
| CURRENT PRICE: 5.32 |
TREND: UPTREND IN TACT, POSSIBLE SHORT TERM DOWN |
| TARGET PRICE: N/A |
RECOMMENDATION: STRONG HOLD |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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CIEN Technical Analysis
Ciena was a stock mentioned on Jim Cramer’s Mad Money show, so we thought we would give you another point of view, because Cramer is on the buy side with this stock. Taking a look at the charts, you can see that this stock has been in a very healthy bull run, and has enjoyed a strong up trend, without much of a decline or consolidation phase. This stock does not have too much overhead resistance in the near future, and should continue to tread higher, unless the MACD starts to show signs of a slow down. On the money flow end of things, this stock continues to attract money, but is showing some premature signs of slowing. On the short term chart, you can see the stocks trading pattern, which has followed an ascending upward channel range, which it has followed very consistently over the past several months. When the price hits the bottom of the channel, that is an opportune entry level. The indicators on this chart are showing signs of a slow down in the short term here, with the MACD beginning to turn, and the RSI has already turned down. The price action of late also indicates a possible break here, as the price has closed well off of their intra-day highs over the past two trading sessions.
Overall, things look favorable with this stock, but you may want to wait a bit before jumping in. The $5.00-$5.10 range is near the bottom of the channel, and would be a nice place to start nibbling. Make sure you keep an eye on the longer term MACD for any signs of a break down.
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