What do you see for INFN, LT? I just looked at it, and it has retraced the entire gap from February where it jumped from low 9's to mid 12's. So it could bounce after that gap filling. OTOH, it still looks weak, below the 20 and 50 ma's which are both heading down, and now at the upper end of the trading range from Nov to Feb where it was low 8's to low 9's. A cursory look at recent earnings suggests no near term catalysts there, but I've no doubt you've looked in far more detail about that.

First, let me state that I am not viewing INFN as a trade (i.e. a few days to weeks), rather, I believe that an investment with a time horizon of two years should prove profitable.

INFN has a very compelling roll out of products over the next few months.  Additionally, it has now perfected its development process such that the next generations will happen within two year cycles of each other, something it could not do in the past therefore it would always lag competitors by 6 months to a year.  The second half should see a return to revenue growth.  The next several years should bring the share price back to the high teens, IMO.

The roll out of 4.5G, 4.9G leading to 5G will require additiomal capacity at every level, and while this is not going to happen overnight, it will be solid demand from all Optical system vendors.  It should lift all boats so to speak over the next several years.

The chart looks awful, but I believe this is a good entry point, the stock is getting into oversold territory and has declined some 60% since its all time high set back in August 2015 when it reached 24.72

The fundamentals will improve dramatically.