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Thursday, May 03, 2007 

JDS Uniphase shares drop

Chart courtesy of stockcharts

JDS Uniphase shares was down nearly 14% or 2.31$ to 14.33$ after reported on Wednesday a fiscal third-quarter net loss of $14.2 million, or 7 cents per share, compared to a profit of $3.7 million, or 2 cents per share, a year ago. The company also said that net revenue rose to $361.7 million from $314.9 million. Looking at the chart the stock breakdown the major support of short term at 15$, so now stock may be ready to retest soon 14$ support. Technically stock is now in a Bearish mode, stock price is now trading below 20,50,200 dma, MACD is back again below 0 indicating a bearish market. Major support now at 14$.

Chart courtesy of stockcharts

Keep an eye on ALEX tomorrow for a possible breakout over 55.20$.

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. Have a nice evening !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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