Ciena Corp. (CIEN) Faces Further Weakness Ahead

Ciena Corp. (NASDAQ: CIEN) slipped 9% to $13.32 on Thursday by mid-day trading, after a gap-down opening. The producer of fiber-optic network gear Ciena Corp. (CIEN) had a fiscal Q1 loss of 12 cents a share on an adjusted basis, which missed the analysts’ average loss of 7 cents a share on an average.

Ciena Corp. (CIEN), which was also below its 20 day MA early in morning trading, has also breached below its 50 day MA of $13.34. The same also confirms the chances that Ciena Corp. (CIEN) may face further weakness in the days ahead.