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Chart courtesy of stockcharts
JDS Uniphase were up more than 6% to $8.47, rebounding from yesterday lows. The stock is still holding support at $7.80 but at the same time has not bounce very strongly here. A break below this level will likely be bearish for stock, on the other hand a close above $9 on heavy volume will launch a rally. Technical indicator as KD is showing weak signal as K line is below D line. Therefore a better time to buy would be to wait for K line to rise back up again above D line or buy stock only if the stock moves above $9 with tight stop loss. Let’s keep an eye on it.
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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