Oclaro (OCLR) Soaring as Cramer Predicts Upside for the Optical Maker
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Oclaro, Inc. (Nasdaq: OCLR) shares are rocking today, following a positive mention by Jim Cramer and colleague recently.
Cramer's colleague Tim Collins said that Oclaro is hitting resistance at its current levels, and relative strength indicators and stochastics point to a strong bullish pattern. Collins believes that that stock could gain $35 - $40, or about 160%, over the next 12-months.
Cramer agrees, saying that the network upgrade cycle initially predicted to happen in 2000 is finally upon us. Oclaro, along with peers JDS Uniphase (Nasdaq: JDSU) and Agilent Tech (NYSE: A), will stand to see some gains when this happens.
OCLR shares are up 12.2% this morning.
Cramer's colleague Tim Collins said that Oclaro is hitting resistance at its current levels, and relative strength indicators and stochastics point to a strong bullish pattern. Collins believes that that stock could gain $35 - $40, or about 160%, over the next 12-months.
Cramer agrees, saying that the network upgrade cycle initially predicted to happen in 2000 is finally upon us. Oclaro, along with peers JDS Uniphase (Nasdaq: JDSU) and Agilent Tech (NYSE: A), will stand to see some gains when this happens.
OCLR shares are up 12.2% this morning.
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