Trade Idea - Ciena
Sunday, August 24, 2008
Chart courtesy of stockcharts

Looking at the daily chart we can see that momentum has been rising since the August low's and has reflected a strong divergence buy setup. The stock is now testing the 20-day moving average and I think offers a good perspective into the overall sentiment. If a breakout occurs, look for upside price targets in the previous $21 area. Let's keep an eye on it next week. I'm looking for a strong move to the upside.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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posted by Pro Investor Trader at 12:42 PM | Permalink


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