Looks like we found a short-term bottom after that nasty dumpđ
Price is currently sitting around 353.87, up about 6% on the day, but itâs been a rough week overall (down over 21% on the 7D).
If we look at the 1D chart, we wicked down to the 330s and are seeing a bit of a relief bounce. Iâm seeing some volume coming in, but Iâm not convinced of a full trend reversal yet.
My Play:
· Entry: Current price (353.87) or a slight pullback to 350 if we get lucky.
· Targets: First TP at 375 (local resistance), second TP at 395.
· Stop Loss: Strict SL at 335. If it breaks below that low, weâre going down to 320.
$CIEN
Price is currently sitting around 353.87, up about 6% on the day, but itâs been a rough week overall (down over 21% on the 7D).
If we look at the 1D chart, we wicked down to the 330s and are seeing a bit of a relief bounce. Iâm seeing some volume coming in, but Iâm not convinced of a full trend reversal yet.
My Play:
· Entry: Current price (353.87) or a slight pullback to 350 if we get lucky.
· Targets: First TP at 375 (local resistance), second TP at 395.
· Stop Loss: Strict SL at 335. If it breaks below that low, weâre going down to 320.
$CIEN