Raining On The Cloud Computing Stocks
Nicholas Santiago | Nov 28, 2012 12:39AM ET
Tuesday afternoon, many of the leading cloud computing stocks traded lower on the session. One of the leading cloud computing stocks is Salesforce.com Inc (CRM). CRM stock traded lower by $3.22 to $157.00 a share. This 2.0 percent decline in CRM stock price certainly weighed on the sector yesterday. Short-term traders and investors can watch for intra-day support around the $156.30, and $155.00 levels. The daily chart of CRM looks to need more consolidation before moving higher.
Some other leading cloud computing stocks that declined yesterday include VMware Inc (VMW), Rackspace Hosting Inc (RAX), Citrix Systems Inc (CTXS), and F5 Networks Inc (FFIV). All of these stocks must be viewed on an individual basis when examining the daily charts, however, they were all weak intra-day. It is also important to take into consideration that many traders and investors might be taking profits from last week's large stock market rally.
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