Ciena is ready to breakout !!!

Discussion in 'Stocks' started by miguel007, Jun 1, 2009.

  1. Good day !!! There seems to be some activity on stock as the stock traded with large volume today. Thing to watch out for this stock is its resistance line at 12.51, which if broken may give the possibility of it going to as high as 16. From the technical chart, we can see a positive move by the MACD fast line as it now crossed above the slow line, this indicates a buy signal. You can also see the golden cross. A Golden Cross occurs when the 50 is below the 200 and crosses through it to the upside. This has been known as a very positive technical signal. The stock is now in a Bullish mode. If price is able to move above 12.51, this will be another victory for the bulls and might help propel the stock towards the next resistance at 16.