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OCLR: Signs Of A Bottom Are IN, New Uptrend Likely

NASDAQ:OCLR   OCLARO, INC.
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OCLR-is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.

There have been positive signs in some of the indicators suggesting that the stock has bottomed. Look for improvement in trend following indicators such as MACD or short term moving averages for confirmation that a new uptrend is beginning. A break above resistance numbers would also confirm that higher prices are in the near term outlook.

OCLR-is outperforming the market when compared to the-S&P 500 over the last 50 trading days. A close above $8.73 is a number to watch to confirm a trend reversal. Over the last 50 trading sessions, there has been more volume on up days than on down days indicating that OCLR-is under accumulation, which is a bullish condition. The 50-day moving average is pointed up but the stock is trading below this important resistance level . ($8.69). A move above this would further validate the improving technical condition.

OCLR-is above its rising 233-day moving average which is pointed up adding to the stocks improving technical condition.
If you would look at full stochastics (14,3,3), this has bottomed on the daily, hourly, and 30 minute charts. An Elliott five wave impulse pattern has been completed, followed by three a-b-c corrective waves.
The lower top indicator has three successive green bars, suggesting a bottom.
Chop zone indicators, under the chart, are negative, but selling is drying up.

Configurations such as described for the chart above can identify new up-trends. These can "explode" above resistance.
Then - look for the Ichimoku Cloud conversion and baselines to indicate trend-line support.

I am long this stock and I expect a trend reversal to the upside.
I hope all of your trades go well. Don.
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