They are forming a lower high and lower low on weekly chart. This means a couple of potential moves next
1: Market gets a strong rally next week, so these optical stocks (LITE, CIEN, COHR, GLW) gets a higher high and high low on the weekly chart. This is a strong signal that correction for optical sector is over and we can expect parabolic to continue --- I view this unlikely
2: Market stays sideway and these stocks get lower high and higher low on the weekly chart. This indicates a continuation of consolidation at high price range level. If next week volume is higher than this week, it is an early warning sign. But if volume is light, then it means nothing other than market waiting for direction.
3: Market starts to loose up and gets another lower high and lower low next week. That would be 2 weeks in a row, which should confirm the downtrend for optical sector.
The only one that has a strong uptrend is TSEM. If it can go above 283 tomorrow, this week would be 3rd in a row to have higher high and higher low
