Key Cloud Computing Stocks Fail To Participate In Rally

This morning, all of the major stock indexes are rallying higher. The rally looks to be broad based as most stock sectors seem to be participating. The Powershares QQQ TrustQQQ is trading higher by 33.cents to $58.09 a share. There are a few key technology stocks that are trading lower this morning, this could be signaling weakness to come in the Nasdaq Composite Akamai Technologies Inc.AKAM is a leading provider of services and applications for accelerating and improving the delivery of content and applications over the internet. AKAM stock is trading lower by 0.90 cents to $30.05 a share. The stock will have some minor intra-day support around the $30.00 level. Should the stock decline further throughout the session, the next intra-day support area will be around the $29.50, and $29.00 levels. Riverbed Technology Inc.RVBD is a leading cloud computing stock that focuses on networking and communication. This stock remains strong on the daily chart by trading above it's 20, 50, and 200 daily chart moving averages. This morning, RVBD stock is trading lower by 0.21 cents to $39.67 a share. Short term traders can watch for intra-day support around the $39.50 area, and more support around the $38.80 level. Citrix Systems Inc.CTXS is another leading cloud computing stock that develops and provides solutions that deliver information technology services on-demand worldwide. The stock has been pulling back on the daily chart recently. This morning, CTXS stock is trading lower by 0.17 cents to $75.72 a share. Short term traders can watch for intra-day support around the $75.00 level. Should the stock decline lower throughout the session, the $74.50 level would be the next intra-day support area. Nicholas Santiago InTheMoneyStocks.com
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: TechnicalsMarketsTrading IdeasGeneralApplication SoftwareCommunications EquipmentInformation TechnologyInternet Software & Services
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!