This morning I’m looking at JDS Uniphase Corporation (JDSU), which was high flier earlier this year but pulled in hard after a very weak earnings report by fellow optical networking stock Finisar Corporation (FNSR). I like JDSU long and will look to accumulate stock between $20.50 and $21.20, for a breakout to $24.50. Short term stops should be at $19.50. Keep in mind earnings are May 4, so be cautious if you are still holding stock into that date. Ciena Corporation (CIEN) is another stock in the sector that looks to be setting up well and has been relatively strong among the group.
*DISCLOSURE: No position- but plans to initiate
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