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Ciena Corporation

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CIEN trade ideas

$ET $LIT $CIEN $SPY I OptionsSwing WatchlistET 1W I ET has been consolidating above $11.50 for some time. We have bullish unusual options activity betting on a retest of $12 by 10/21. Reports earnings on 08/02! LIT 1D I Energy stocks and lithium stocks in general have been overperforming the market for the past two weeks. Watching for a breakout from this downtrend. CIEN 4H I Bullish unusual activity picked up on our scanner. Possible breakout from this downtrend and fib extension. They are trading the $54c expiring on 06/03. SPY 1D I A SPY made a double bottom near $385 last week and ended up breaking from its downtrend in just two sessions. Expecting resistance at $430, and support at $410.
NYSE:CIENLong
by optionsswing
Double-Top Coming For Ciena?Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated BUY on February 15, 2022 with a closing price of 68.53. If this instance is successful, that means the stock should rise to at least 69.51 which is the bottom of the larger green box. Three-quarters of all successful signals have the stock rise 8.261% from the signal closing price. This percentage is the bottom of the smaller green box. Half of all successful signals have the stock rise 17.521% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock rise 27.504% from the signal closing price which is the top of the smaller green box. The maximum rise on record would see a move to the top of the larger green box. These are the same concepts for the levels in the red boxes as well. The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 35 trading bars after the signal. A 1% rise must occur over the next 35 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 9 trading bars; half occur within 20 trading bars, and one-quarter require at least 31 trading bars. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
NYSE:CIENLong
by StockSignaler
CIEN ER Gap Fill coming? $CIEN is looking for gap fill. Beat Q3 ER but COVID guidance tanked the price. Comparing to $CSCO who MISSED ($0.51 vs $0.70 EPS) their last ER Nov. 12 but gapped up. $CIEN may gap up for similar reasons if the market sentiment is bullish around the ER. Reminds me of $FSLY chart which is also looking to fill the gap. The day of the ER seems to coincide with when NDX had the Sept 2020 correction, so this name seems to have been unfairly punished. $CIEN has stronger relative strength vs NDX, so once we start filling the gap with higher relative volume, the price action may be faster than normal $1.21 ATR Market is melting up and $CSCO popping on ER miss could be a preview of what will happen to this name. Lowered expectation and over reaction on the pull back may help this name to pop. Play - Bullish Looking for consolidation and to cool off oversold RSI on Daily and 4Hr for the breakout into the gap. Selling Credit put spread leading up to the ER for IV crush. Dec. 18, 2020 $43-$41 credit put spread (currently 0.44 Cr for $200 margin) Following ER, go long if reaction is positive and above $47.05 Jan 15, 2021 Call $47 (currently most liquid) PT: $50, $55, $58 Company Profile $CIEN is a challenger to $CSCO Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services thatsupport the transport, switching, aggregation, service delivery and management of video, data, and voice traffic on communications networks The sectoris outperforming the market thus farin 2020, with a gain of 20.9%. It also outperformed in 2019, with a gain of 48.0%, and in 2018, with a loss of 1.6%. -Dec 2, 2020 CIEN trades at 14.6-times our FY20 non-GAAP EPS forecast and at 14.9-times our FY21 estimate. - Argus Report, Jim Kelleber CFA Sept 8th, 2020 - BUY
NYSE:CIENLong
by Pr0diJ