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TradersHuddle Scanner - High Volume For Ciena

Published on Wednesday, 08 September 2010 11:46 Written by Christopher Lynn

cien New York, September 8th (TradersHuddle.com) - Unusual high volume detected on shares of Ciena Corporation (NASDAQ:CIEN), early in the trading session. Ciena is currently trading higher by 5.14%, so definitely the buyers stepping in, as the stock's volume is already above average.

Ciena Corporation (NASDAQ:CIEN) develops and markets communications network platforms. The company offers broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom and cable/MSO services providers.

Ciena has already traded 1.004 times its 3-month average volume, and has calculated support and resistance at $12.37 and $13.12 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.86% from its previous trading close, which means that Ciena stock is outperforming the overall market.

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