Cloud Stocks Fail to Float Higher – CRM, FFIV, NFLX, RVBD, AKAM

This morning, many of the leading cloud computing stocks are failing to rally with the technology sector. This is very strange since the NASDAQ Composite is higher by 2.00 percent at the open of the session. One of the leading cloud computing stocks in the market is Salesforce.com Inc (NYSE:CRM). This stock is trading lower by 0.73 cents to $149.25 a share. The stock is sitting right on the daily chart 50 moving average which is short term support. Should this level fail to hold as support and break lower the the stock could decline down to the $142.75 area. Short term traders can watch for intra-day support around the $148.00 and $144.50 levels.

Some other leading cloud stocks that are failing to rally higher today include F5 Networks, Inc. (NASDAQ:FFIV), Netflix, Inc. (NASDAQ:NFLX), Riverbed Technology, Inc. (NASDAQ:RVBD), and Akamai Technologies, Inc. (NASDAQ:AKAM). At this time, the weakness in the cloud computing sector should be noted. Should the major stock indexes start to decline these stocks would likely lead the markets lower as they have poor relative strength today.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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