September 27, 2004
SpeculatingStocks.com Stock Pick: JDS Uniphase Corp (JDSU)
Stock Price: $3.28 (short-term strong buy)
JDS Uniphase Corp is a leading maker of fiber optic components. The components are used for commercial, industrial, and consumer applications including data services, security, and defense.
We believe JDSU can be traded between the $3-$4 range for the trader who wants to attempt at channeling. JDSU appears to be a strong buy below $3.40 and a sell in the $3.70-$4.00 range.
On news, JDSU could even break through $4.00 where it was for the first four months of this year. There doesn't appear to be much downside risk due to the heavy support at the $3 level.
SpeculatingStocks.com Target Price: We expect JDSU to trade in the $3.70-$4.00 range within the next 1-2 months.