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 Trust(NASDAQ:QQQ) 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.(NASDAQ: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.(NASDAQ: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.(NASDAQ: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.