Moving Average Crossover Alert: Ciena (CIEN)

Are you a technical investor? If so, it may be time to consider Ciena Corporation CIEN for your portfolio. The company just saw its 50 Day Moving Average breakout above its 200 Day Simple moving average, a trend that could indicate some bullishness in the future for CIEN.

This trend may have already begun, as shares of CIEN have moved by higher by 13.1% in just the past month. Plus, CIEN has earned itself a Zacks Rank #2 (Buy), so there is plenty of reason to believe that the run for Ciena has plenty of life left. 

More bullishness may especially be the case when investors consider what has been happening for CIEN on the earnings estimate revision front lately. Only one estimate has gone lower in the past two months, compared to 9 higher, while the consensus estimate has also moved higher too.

So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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