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CIENA CORPORATION
(CIEN-Nasdaq):
Technical Viewpoint: From a low
of $16 5/8 on Apr 12, 1999 prices
rallied, reaching a
high of $34 1/8
on Jun 8, 1999. A
decline saw prices pull back, reaching a
low of
$27 3/8 on Jun 15, 1999.
Another rally saw prices penetrate
resistance, closing 6/23/99
at $33.31. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Apr 30, 1999 when the Histogram crossed the "0" line to the upside.
Support: Remains at $27.00. Resistance: Is at $34 1/8.
Point & Figure: Reversed to the upside on Jun 17, 1999. A P&F upside
reversal takes place at $30 3/4. Summary: Technical indicators have turned bullish. BUY! CIENA CORPORATION
(CIEN-Nasdaq) @ $33 5/8 Stop: Use a protective stop of $31 1/4.
CIENA CORPORATION is currently trading @ $33.31 plus $2.81 on Jun 23, 1999. Price Objective:
$46 1/4. Risk/Reward: $2 3/8 VS. $12 5/8. Today's Risk Reward Ratio: 5:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$46 1/4
Risk/Reward:
$2 3/8 VS. $12 5/8
Risk/Reward Ratio:
5:1
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