The 100
The moves in the Nasdaq 100 often precede the moves in the
broader tech market. The index left us on Friday right at a key support level.Â
Today’s Tech Watchlist:
(
PUMA |
Quote |
Chart |
News |
PowerRating),
(
NXTL |
Quote |
Chart |
News |
PowerRating)
Puma Technology
(
PUMA |
Quote |
Chart |
News |
PowerRating) broke down below support on Friday when it hit a new
52-week low. With the continued depression in the tech sector, weak stocks are
likely to get weaker. Set your alerts near Friday’s intraday low and watch for a
continuation move below this key level. Ironically, Stephens Inc. upgraded Puma
to a buy on Friday.
Nextel
(
NXTL |
Quote |
Chart |
News |
PowerRating) has yet to break down, but is poised to. NXTL was upgraded to
a strong buy on Friday, which provided a minor bit of a bounce in early trading,
but it died by the end of the day. Set your alerts near the highlighted area
below and watch for a close below this level. The volume has been very strong
recently, suggesting that the current trend may continue. Yet, Friday’s volume
is probably a result of the upgrade, which drew people’s attention toward the
stock.
Until later,Â
There will be
no Trading the Techs PM today.
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