| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| CIEN $15.98 |
Today's open was just below the 38.2% Fibonacci retracement level of $16.06.
Next below that is 50%, at $15.01, and 61.8%, at $13.95. Both are common Fib resistance levels.
The grid tracks the retracement of the rise from $10.53 on Dec. 18, 2009 to the high of $19.48 on May 3.
Today's decline brings the price into the area of a top set in September and October 2009. It was an extended, rounded top, and appears to be a strong support level to my eyes at least.
The strength of the uptrend, which nearly doubled the price, suggests at least the possibility of a shallow retracement.
CIEN participated in Thursday's computer-driven selling panic, and so some of its technical analysis was tainted. See the Skynet Panic articles listed below.
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
Skynet Panic of May 6
Panic Looks Like This
Skynet Panic Poisons Technical Tools
Also on Private Trader:
Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic
About the glance: The colors indicate the state of each signal.
- trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
- adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
- psar, pps, macd: green for bull mode, red for bear
- sto: green for overbought, red for oversold, yellow for the neutral zone.
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