Ciena @ Year Highs

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Ciena @ Year Highs

Published on Tuesday, 07 August 2012 12:34 Written by TradersHuddle Wire

cien New York, August 7th (TradersHuddle.com) - Shares of Ciena Corporation (NASDAQ:CIEN) booked a new 52 week high today by trading above $17.91, traders are definitely monitoring Ciena's price action to see if this move attracts further buying into the stock.

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 is currently trading 6.13% versus its previous trading session close, and it has calculated support and resistance at $15.21 and $16.51 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.84% from its previous trading close, which means that Ciena stock is outperforming the overall market.

Note - Automated Content Created By TradersHuddle's Technical Scanner

Cisco on Deck: Don't Expect Any Miracles - TheStreet.com
Cellar-Dwellers Take a Leap - TheStreet.com
Ciena Corporation (CIEN): Today's Featured Technology Winner - TheStreet.com
Ciena Corporation (CIEN): Today's Featured Telecommunications Laggard - TheStreet.com
Why Ciena Is No Longer Worth the Risk - TheStreet.com
Ciena Corporation Stock Downgraded (CIEN) - TheStreet.com
Ciena Still Trying To Translate Tech Into Prosperity (CIEN, ALU, T, JDSU) - Investopedia
Social Market Analytics Looks at Earnings for CIENA Corp. - Benzinga
UPDATE: J.P. Morgan Reiterates Overweight Rating, Lowers PT on Ciena Corporation - Benzinga
UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on Ciena Corporation - Benzinga

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