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.
#2 Jan 16, 2013
This morning, leading application software company salesforce.com Inc (NYSE:CRM) is trading lower by $5.34 cents to $169.31 a share. This leading cloud computing stock is weighing on many other cloud related stocks. Short term traders should watch for intra-day support on CRM stock around the $166.90 level. Should the stock decline below that level in the coming days there will be daily chart support around the $157.00 area.
Some leading cloud computing stocks that are also weak this morning include VMware Inc (NYSE:VMW), Citrix Systems Inc (NASDAQ:CTXS), F5 Networks Inc (NASDAQ:FFIV), and Rackspace Hosting Inc (NYSE:RAX) to name a few. Often the cloud computing stocks will trade closely together. CRM and VMW are considered to be the leaders of the industry group.
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