Business Software Could Be Getting Set For Lift Off
Recently, many of the leading business software stocks have come under selling pressure. At this time many leading stocks seems to be getting dragged down as the United States debt ceiling debate has no resolution yet. Leading business software stocks such as Oracle Corp.(NASDAQ:ORCL), SAP AG(NYSE:SAP), and CA Technologies Inc.(NASDAQ:CA), and NetSuite Inc(NYSE:N) have held up well considering all of the stock market uncertainty. Yesterday, German business software giant SAP AG stock actually broke out of a short term down trend. When a leading stock such as SAP rallies sharply higher the other leaders in the group will usually follow.
Traders should understand that NetSuite Inc.(NYSE:N) is scheduled to report earnings tomorrow after the closing bell. While the stock looks very attractive at current levels it is always very risking to own a stock before an earnings release.