Trade Ideas For Wednesday - CVH And CIEN

Chart courtesy of www.stockcharts.com ( click to enlarge )

Coventry Health Care (CVH) - 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. Looking at the technical daily chart above, the stock is back to bull market rally 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. Shareholders may remain invested with a stop-loss at 13.69.

Chart courtesy of www.stockcharts.com ( click to enlarge )

According to the daily technical chart, shares of Ciena (CIEN) have 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.

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.

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