Riverbed (RVBD), Juniper (JNPR) Could Bounce

With recent blowout earnings from Red Hat, Inc. (RHT) and strength coming into names like Rackspace Hosting, Inc. (RAX) and EMC Corporation (EMC), both making new 52 week highs recently, I believe the next cloud name to make a move will be Riverbed Technologies, Inc. (RVBD). With earnings after the close on April 25th there is ample time to see a break and hold of RVBD’s down trend and a move to my first target of $42 and then potential new 52 week highs at $44.70.

I would look to potentially be a buyer above $38.58 with volume. Another name in the cloud space to keep an eye on is Juniper Networks, Inc. (JNPR), which broke its downtrend yesterday with strong buying. I believe JNPR will also make new 52 week highs in the not so distant future.

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By: Marc Sperling

Disclosure: No relevant position

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