Some Oversold Cloud Stocks Get A Lift
Posted in the Citrix Systems Forum
#1 Oct 10, 2012
This morning, many of the leading cloud computing stocks are catching a bid higher. Citrix Systems Inc (NASDAQ:CTXS) is one of the leading stocks in the cloud computing sector. Today, CTXS stocks is trading higher by $1.02 to $69.15 a share. This stock is very oversold on the daily chart. CTXS stock has declined lower by $14.00 from its September 21, 2012 high pivot when it traded as high as $82.00 a share. Short term traders should watch for intra-day resistance around the $69.45, and $71.40 levels. Should the daily chart trade sideways for the next week or so it could be building pressure to decline lower in the near term.
Some other leading cloud computing stocks that are trading higher on the trading day include Rackspace Hosting Inc (NYSE:RAX), VMWare Inc (NYSE:VMW), and ACME Packet Inc (NASDAQ:ACME). It is important to remember that this leading industry group still remains weak on the charts despite many of the leading stocks being oversold in the near term.
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