CIENA Tries to Find A Bottom (CIEN)

Posted in pre-market 
December 11th, 2009

CIENA Corporation (NASDAQ: CIEN) is getting a little bit of a bounce this morning after yesterday’s mammoth downward volume day.  Shares are trading up 1.7% at $11.92 on 36,490 as of 8:06 AM EST.  We would look for a much more active trading session in Ciena today than this because yesterday saw 29.7 million shares trade hands and the stock fell 11.4% to $11.72 from $13.23 the day before.  Average volume is over 6 million shares and the 52-week range is $4.98 to $16.64.  Yesterday’s intra-day low was $11.65 and yesterday’s trading coincides almost identically with the lows seen at the end of October.

Jon C. Ogg

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