Welcome to another edition of Sometimes Charts Work Out. Today on Sometime Charts Work Out we view the case of one Ciena (CIEN), which has had freakishly bullish looking patterns all over it. We’ve been stalking it in NFTRH for many months.
From NFTRH 514’s NFTRH+ Charts & Notes segment…
From yesterday’s NFTRH real time Trade Log…
Bring CIEN back in on the pullback.
Today’s daily chart is doing this (for reasons I’ll have to check on after I put up this post)… I mean, just look at that freakish bull pattern. And when considering the weekly chart above, it’s a long-term breakout as well with a target of 35 to 36 [edit: the daily pattern measures to around 33]. I don’t know whether I’ll hold it or take another profit (will check for news, think about market, etc.). But sometimes… charts work out. [edit: take profit on 1/2 position].
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