Ciena Corporation (CIEN) - Trade Stocks

Ciena Corporation (CIEN)

By Tue, Aug 4, 2020

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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About the Author

JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.