Ciena Breaking Out?

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Ciena Breaking Out?

Published on Friday, 13 January 2012 08:36 Written by Christopher Lynn

New York, January 13th (TradersHuddle.com) - Shares of Ciena Corporation (NASDAQ:CIEN) closed the trading session at $14.60 just above calculated resistance at $14.24 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

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's stock was trading in a well defined range with support at $10.30 and resistance at $14.24, given that this range was broken traders will be closely monitoring the stock

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