Let's look at our charts and indicators to see how this is all coming together and where we might get long.
In this 12-month daily chart of CIEN, below, we can see a low made in May followed by an "irregular" rising market and then a breakout and gap to a new high this week.
CIEN is above the flat 50-day moving average line as well as the rising 200-day line. The On-Balance-Volume (OBV) line is OK in that it has moved up and down with prices but it should strengthen if this breakout has legs.
The Moving Average Convergence Divergence (MACD) oscillator is above the zero line, or bullish.
The four-year weekly chart of CIEN, below, shows the sideways trading range I referred to above. The range has become narrower over the years with prices approaching an apex of sorts this year. The latest weekly bar shows the strong rally to the upside breaking the pattern. The OBV line is generally positive and the MACD oscillator has been bullish since late July.
In this Point and Figure chart of CIEN, below, you can see that sideways price action again. The recent trade up to $25 breaks the previous high at $23 and opens up a price of $30.50 for starters.