For long 22 years, Fiber Optic Ciena Corporation (CIEN) shares have worked on a base, digesting the dot-com bubble within Ciena Corp. traded at a stunning 1057$ alltime-high.
It´s 17 yearlong permanent Rounded Bottom neckline resistance is broken to the upside at the start of the new DECADE 2020-2029.
Overcoming a combined MILLENIUM & CENTURY & DECADE neckline resistance near 50$ right at the beginning of a new DECADE seems to be one of the most powerful buy signals that are possible at all and looks like a trusted and normally sustainable BIG BASE breakout that became offically sealed just 2 weeks ago by final May 2020 close that reached a 55.26$.
And BIG BASES usually lead to BIG MOVES!
==> May 2020 candle close means the highest monthly close since MARCH 2002!
May 2020 close fired BIG BASE ==> BIG MOVE longterm buy signal for a 95$ up to Big Round 100$ target. For this measured move longterm BIG MOVE uptarget we measure the distance of the lowest price of the Rounded Bottom that has formed in course of the MILLENNIUM up to the combined MILLENIUM & CENTURY & DECADE neckline resistance and add this range to the combined MILLENIUM & CENTURY & DECADE neckline resistance. This calculation I have visualized with the 4 phat blue-dashed vertical arrows.
Therefore we have identified:
==> BIG BASE ==> BIG MOVE uptarget is the 95$ to Big Round 100$ number resistance upmagnet. This is a longterm upmagnet and might be worked off 2021/2022?!?
To this uber-bullish breakout adds another very positive as apparently a Parabolic Arc support seems to be emerging for about 7 years. And also this one has started to radiate much more bullish energy than the years before right after the new 2020-2029 DECADE time window started.
This Parabolic Arc/observation points to that a mighty monthly rally leg is getting started at 2020 March low what is last and outstanding successful backtest of 22 year MILLENNIUM Rounded Bottom support.
==> Likely the bull market that began at 2008-2009 MILLENNIUM Bottom entered a new hot phase at March 2020 lows!
The current 2020 high of the May 2020, printed at 56.76$, reached and
tested - negative for the time being - another very, very important
combined resistance. Namely the combined MILLENIUM & CENTURY &
DECADE horizontal resistance, which originates from the final high of
the year 2004. This horizontal is really the very last important bear
threshold. Once this has been overcome, CIEN should produce
The still determining combined MILLENIUM & CENTURY & DECADE horizontal resistance at 56.50$ surroundings negates the fired BIG BASE ==> BIG MOVE buy signal in no way!
Au contrair. At the moment it seems that this important resistance could offer the optimal Gentleman`s long, since the price of the shares reacts visibly but also very bullish to this mighty threshold! For this we switch in the weekly chart and overlay a classic weekly 13 Fib number GUNNER24 Up Setup what starts measuring to the upside - as usual - at the coronavirus panic low of the year.
Blue Arc is well-defined and nicely confirmed as future important after this week candle # 14 also found to the T resistance at Blue Arc from below. Additionally the Blue Arc is weekly closing base threshold. Therefore now this trade signal applies: ==> a very first weekly close above Blue Arc and consequently baby should fly to da moon!
Now we perhaps see a relative steep Falling Wedge unfolding in the weekly chart. This would be a bullish pattern & trend continuation pattern cause breaking upward 68% of time, what points to that price next needs a retest of this MONSTER SUPPORT MAGNET NEST:
Round 50$ number magnet, the at 50.35$ existing Gap Magnet which could be tested and or filled soon. The former week highs resistance and the nearest weekly Gann Angle out of major important higher # 1 // 30.58$ // 2020 Low, what with nearly 100% probability will be the final low of 2020.
As weekly pullback pattern looks actually and price behaves since year highs this attractive quadruple weekly support magnet, the most ideal backtest target the MONSTER at around 50.35$, could be tested within the next two trading weeks.
==> Year 2020 rally uptarget is the lower line of 1st GUNNER24 Uptarget and seems to be at 65.00$:
Final/official confirmation the the run into lower line of 1st double arc uptarget is getting started is the very first week close above the 4 times negative confirmed Blue Arc resistance rail. GUNNER24 Method signals that such a close is imminent after the May 2020 buy signal = a mega-buy signal!
The final upward break of a 17-year lasting resistance usually unleashes powerful upwards energy, means hard and steep rally moves, so 65$ GUNNER24 Uptarget usually will be tested and worked of within this year and maybe sometimes in course of autumn.
==> BIG BASE ==> BIG MOVE uptarget is the 95$ to Big Round 100$ number resistance upmagnet. This is now finally acitvated longterm bull market range and might be reached in course of the next years 2021 to 2022!
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