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

Chart courtesy of stockcharts ( click to enlarge )

Yingli Green Energy (NYSE: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 (NASDAQ: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 (NASDAQ: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.

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