Ciena Corporation provides communications networking equipment,
software, and services that support the transport, switching,
aggregation, and management of voice, video, and data traffic worldwide.
The company operates through Converged Packet Optical, Packet
Networking, Optical Transport, and Software and Services segments. The
Converged Packet Optical segment offers networking solutions optimized
for the convergence of coherent optical transport, OTN switching, and
packet switching. The Packet Networking segment principally provides the
company’s 3000 family of service delivery switches and service
aggregation switches, the 5000 series of service aggregation switches,
and its Ethernet packet configuration for the 5410 Service Aggregation
Switch. The Optical Transport segment transports voice, video, and data
traffic at high transmission speeds. The Software and Services segment
offers network software suite, including the OneControl Unified
Management System, an integrated network and service management software
designed to automate and simplify network management, operation, and
service delivery.
Please take a look at the 1-year chart of CIEN (Ciena Corporation) below with my added notations:
CIEN peaked last October at $28 and lost a quarter of its value from
there. The stock seems to be forming a base over the last (3) months all
the while hitting a very important level of resistance at $24 (blue).
No matter what the market has or has not done since November, CIEN has
not been able to break through that area of resistance. If the stock can
break above $24 higher prices should follow.
The Tale of the Tape: CIEN has a key level of
resistance at $24. A long trade could be entered on a break through that
level. However, if you are bearish on the stock, a short trade could be
made on any rallies up to $24.
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