Ciena Corporation (CIEN)
Hey there,
We are back with a chart alert I absolutely love!
This week’s chart is an old familiar name for you seasoned vets…
Ciena Corporation (CIEN) is a telecommunications company that has been around for decades.
In the late nineties and early 2000s CIEN was an industry darling.
Then it just fell apart…
But after 2 decades of mediocrity, CIEN broke out of a gorgeous base that could ultimately net 3-4x returns.
We are LONG above $57 here.
And while we could ultimately see CIEN hit $140 or even $225, we are looking at the first price target of $90.
Remember, the bigger the base, the higher in space. And this base looks amazing!
So again, we are long in CIEN above $57, with an initial target of $90.
If this is helpful for you, make sure to join us this Thursday at 8PM (EST) / 5PM (PST) for a special Charting Room training where I’ll share some other winning recommendations with you.
See you then!
Til next week, good trading,
JC Parets
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