Riverbed Sits Above A Support Level
Riverbed Technology, Inc. (NASDAQ:RVBD) is trading lower again today, following an ugly earnings report late last week. The stock is hovering at $19.47, -0.38 (-1.91%). Many traders and investors are wondering where the stock will finally bounce. After analyzing the chart, the price level is near and clear, $18.50. There is a major double bottom going back to early October 2011. Note the chart below. This swill be support for this beaten down company.