Netflix Inc. (NASDAQ:NFLX) and VMWare Inc. (NYSE:VMW) are two leading technology stocks that are trading higher in today’s market. Despite the sell off in major stock indexes there are some pockets of strength in this market.
Netflix Inc. sold off sharply over the past four trading sessions, however, today the stock is bouncing higher by $5.00 to $233.16 a share. The stock has also recaptured it’s daily chart 20 moving average which is a slightly bullish sign. Traders and investors must still be cautious this week as it is options expiration on Friday. Often during options expiration week the large financial institutions will play a lot of games with the stock. Please understand it takes an institution to move a $200 dollar stock with good volume behind it. It is not the guy at home with a $10,000 online account moving this stock. Traders can expect more volatility in this leading technology stock throughout the end of the week.
VMWare Inc. is trading higher by $1.68 to $84.58 a share. This stock has been rallying higher since mid-March when it traded as low as $74.04 a share. The stock remains strong on the charts, however, it will have daily chart resistance around the $86.00 level. This is a level where the institutions may look to take profits. Traders should watch for pullbacks around this level especially during the week of options expiration.