I mentioned last week how a mega stalwart from the past few years, F5 Networks (FFIV), had completely broken down technically. Despite this rally it has not recovered much and it remains a ‘short on bounces until it proves otherwise’ stock. Joining it now, is another of the superstars of the past few years – Riverbed Technology (RVBD) – which is faltering badly today after breaking the key 50 day moving average a few days ago. Indeed, it has been down 8 of the past 10 sessions.
RVBD does not have a lot of gaps to fill like F5 Networks had, but as I said with the FFIV… if the stock drops to that 200 day moving average, I’d be a very interested buyer. The chart would be a mess, but at that point you’d be speaking more from a fundamental/valuation basis.
For whatever reason, there seems to be a major rotation out of some of the “2009-2010 tech superstars”… if only we could read HAL9000’s mind.