Stock Picks and Trade Ideas - Tetra Tech and Ciena
Chart courtesy of www.stockcharts.com ( click to enlarge )TTEK - Contrary to expectations, the stock ruled strong and also moved closer to the resistance level of 24. Investors may remain invested with a stop-loss at 22.21 (on closing basis) as the stock appears to have the potential to breakout the target zone of 24. So far the technical chart is still showing buy signal with stock trading above 20 day and 50 day moving averages with MACD on top of signal line and K line on top of D line.
Chart courtesy of www.stockcharts.com ( click to enlarge )CIEN - Shares of Ciena Corporations have been taking a hit on Wednesday’s trading session after a Credit Suisse analyst downgraded the stock to an “underperform” from “neutral.”Not quite sure if they are correct with this analyses, because the company is making a lot of improvements in its organization and the infrastructure spending is not so bad at all, however it's a fact there is some clear evidences of slowing in network spending but is not a dramatical slowing like many have predicted. On 6th of January Barclays Capital Equal made exactly the reversal upgrading the stock to an “Overweight” from “Equal Weight”. Who is right ? Well, I would prefer follow Barclays advise because over the recent times that have outperformance the market with good bets everytime they recommends small caps.!!! I continue to have a favorable longer-term view of the company and I believe the stock should provide steady, above-market returns over the long run. Technically the stock is trading in a short-uptrend channel. Channel support and resistance have been tested successfully on numerous occasions, making this particular uptrend channel very valid from a technical perspective. At the moment, CIEN is trading near the bottom of the channel, but not close enough to channel support to warrant an upside movement in this market environment. I do not recommend a position at the moment, but will watch price action carefully for moves to uptrend channel support or resistance.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's all Folks. See you tomorrow !!!
AC
That's all Folks. See you tomorrow !!!
AC
