Trade Ideas for Wednesday - CVH and CIEN
Chart courtesy of www.stockcharts.com ( click to enlarge )Looking at the daily chart of Concentry Health Care, it looks like the near-term outlook is bullish and a close above 15.68 would confirm this view. On the contrary, a close below 13.69 would have bearish implications and would push the stock to the 12.50-13 range. Some Indicators are really giving Bullish indications with MACD on top of 0 and K line on top of D line. However with ROC now showing stock has been slightly overbought, do expect some profit taking and a pull back to 13.69 might occour soon. Shareholders may remain invested with a stop-loss at 13.69. Let's keep an eye on it.
Chart courtesy of www.stockcharts.com ( click to enlarge )Ciena "CIEN " - According to the daily technical chart above, the stock has been trading above both 50 day moving average since last week, a bullish sign. Postive MACD also indicates that the stock is a buy. In addition the KD lines is also showing the stock is still on positive swing. A move past 8.13 would be a strong indicator of a further uptrend in the stock. Honestly speaking, I believe the stock should provide steady, above-market returns over the long run. Let's keep an eye on it.
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
