Stock Picks For Friday: Ciena, Yingli Green Energy And JDS Uniphase

Chart courtesy of stockcharts ( click to enlarge )

Yingli Green Energy (YGE) made a strong upside reversal Thursday. The technical chart above suggests that stock might find now resistance at $13. Only a close above this level would suggest further upside. I think the stock is due for recovery as K line has crossed on top over D line. The stock needs to close above $13 in order to alleviate the negative near term view. Remain invested with a stop loss at $11.06.

Chart courtesy of stockcharts ( click to enlarge )

JDS Uniphase (JDSU) - From the technical chart it looks like the slide has ended and the stock is now back on the rise again with K line on top over D line. Fresh buying may be considered on a move past $5.91, with a stop-loss at $5.41. At the moment, there is no reason to sell the stock.

Chart courtesy of stockcharts ( click to enlarge )

Ciena (CIEN) showed more signs of strength on Thursday’s session, as the stock closed up $.27 on the day.

A quick look at the technical chart :

1) The MACD Fast line crossed up through the slow Line on Tuesday - Bullish.
2) 50 day moving average crossed the 200 day moving average to the upside.
3) RSI back above 50 level.
4) Money Flow-Index still climbing.
5) The +DI crossed up through the -DI his week - Bullish.
6) Golden Cross Activated

On Thursday, it tested the 50-day moving average line that has been resistance. If the CIEN can break above this resistance, that would be significant - Very Bullish.

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.

Subscribe by RSS Subscribe by Email