JDS Uniphase In Bullish Formation
Feb 17, 2010 Stocks, Trading Idea
Telecom equipment manufacturer, JDS Uniphase (JDSU) rallied 17% last week, opening the week at $7.90 and closing at $9.25. On Tuesday, the first trading day this week, the stock climbed another 3.7% from last Friday’s close, extending the recent bullish formation. With yesterday’s move, the stock set a new 52 week high at $9.62 and closed just two cents below that. With the overall stock market adding some upward momentum the last few trading sessions and looking to continue that, (JDSU) should tack on a few more percentage points making for some nice near-term profits.
