CIEN Daily Chart ~ More Resistance at the Horizontal Resistance Line
Since entering CIEN in the high 21.00s/low 22.00s just over a week ago, the stock rallied right up to its previous high before falling back into the mid 23.00s. The FullSto and faster MACDs have already began curling to the downside with the 12d has leveled out. I might be taking small profits Monday morning unless CIEN turns upwards early on. The doji of Friday, which occurred at the lower end of the short term channel of the last week, is sometimes an indicator of a reversal. The stock also closed just under the MA100. I'd rather take 5-7% profits than ride it back down to where I entered. Watching close on Monday morning. Should I hang on, the downside might be limited to the lows of November/December, but I hate letting a profit disappear. Decisions, decisions. GLTA
Since entering CIEN in the high 21.00s/low 22.00s just over a week ago, the stock rallied right up to its previous high before falling back into the mid 23.00s. The FullSto and faster MACDs have already began curling to the downside with the 12d has leveled out. I might be taking small profits Monday morning unless CIEN turns upwards early on. The doji of Friday, which occurred at the lower end of the short term channel of the last week, is sometimes an indicator of a reversal. The stock also closed just under the MA100. I'd rather take 5-7% profits than ride it back down to where I entered. Watching close on Monday morning. Should I hang on, the downside might be limited to the lows of November/December, but I hate letting a profit disappear. Decisions, decisions. GLTA
