I wrote a post last week, that there might be a buying opportunity present in Rambus, as it bounced from its 15.70 horizontal support again. Notice how the stock has been trading in clear horizontal channel over the past weeks. It looks like the recent consolidation is ending and that it wants to move higher towards 20. I started to pick up some shares, everything below $18, I would accumulate more in the days to come. Even if the stock is not ready to go, at least there is a clear area under the recent test of support for which to place my stops. From a technical standpoint, the $19.07 area has been proved to be resistance over the recent weeks. More times the resistance has been tested, there is good chance for breaking above that point. I feel that there is a possibility for RMBS to go beyond this area next week. The OBV indicator is showing a healthy inflow of money, it still on a 6-month uptrend. The daily chart looks Bullish with both 20, 50 and 200 daily moving averages going up and MACD on top of 0, RSI in a Bullish area too. The -DI has cut below the +DI line, this implies that uptrend will most likely continue. The bias is now bullish in nearest term but remains neutral in medium term. Rambus is the frequent subject of patent infringement & anti-trust claim issues. Hynix Semiconductor, Samsung Electronics, Micron Tech have had patent infringement suits with Rambus, so please be aware that the share price depends in part of the news that comes to the market, causing generally large fluctuations in the share, so be careful if you’re not familiar with the stock.

CIEN has corrected very sharply after recording a high of 16.63 on September 22. It has hit a recent low of 11.43 on November 02. Without considering Ciena’s financial performance and condition, I believe that this could be a good level for a strong rebound in this stock. As such, Ciena is now a good trading Buy, with a stop loss at $12. The technical indicators are looking better for the stock with MACD indicator above its sell signal line, K line on top of D line and RSI indicator moving up from the 40 level. A close above $12.5 will impart bullishness and will help the stock move to the 13.62-14 band.