Storms In The Cloud
This morning, some of the leading cloud computing stocks are coming under selling pressure. Leading cloud computing stocks such as F5 Networks, Inc.(NASDAQ:FFIV), and VMware, Inc.(NYSE:VMW) are leading the cloud computing sell off. Both of these stocks have already bounced off of the morning lows. It is important to note that most of the leading cloud computing stocks are now oversold and could be due for a short term bounce in the coming days. Should FFIV stock trade lower again traders should watch for short term intra-day support around the $120.00, and $117.00 levels. VMW stock should have decent intra-day support around the $102.80, and $100.00 levels.
Some other leading could computing stocks that are showing some early weakness include Riverbed Technology, Inc. (NASDAQ:RVBD), Netflix, Inc. (NASDAQ:NFLX), and Oracle Corp (NASDAQ:ORCL). Most of these leading cloud stocks are nearing short term oversold conditions. Please understand that earnings season has started and these stocks will all be very volatile while the earnings reports are released. Please check the earnings date before trading any stock during earnings season.