CFD Trading – Shopify & CIENA Inc

CIENA Corporation Stock Code CIEN.NYS

Outlook
Price has been a range since Aug 2019. From the Aug 2019’s high at $44.47, we saw price declined to $33.24 and from the low, a rally to the high again in late Feb 2020. Another attempt to test the high of $44.47 was not successful and it resulted in price falling below the cloud. There was also a bearish divergence when price tested the high, which is a warning of a possible price high. Both Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Spanning is below price of 26 periods ago and also below the cloud, confirming the bearish trend. MACD has both its line below the zero line and both lines are moving lower, hinting of a bearish price trend.

Strategy
$38.00                Short Sell
$33.30                Price Target
$40.70                Risk Management Stop
3 weeks              Trade Duration

SHOPIFY Inc. Stock Code SHOP.NYS

Outlook
Price reached a high of $593.40 on 12 Feb and has been declining since that high. A gap was closed on the way down, which confirmed an exhaustion gap and the end of a major rally. A subsequent rally also failed to move above this gap. Price declined below the cloud 2 days ago with both Conversion and Base lines having had a bearish crossover earlier.  Lagging Span is below price of 26 periods ago but is still above the cloud. However MACD has both its line below the zero line and both lines are moving lower, hinting of a bearish price trend.

Strategy
$405.00              Short Sell
$318.60              Price Target
$445.50              Risk Management Stop
3 weeks              Trade Duration


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