Two Tech Stock Casualties
07/30/2010 10:03 am EST
Two widely followed tech stocks were hit hard on Thursday, but technically, they look very different. Akamai Technologies (AKAM) has been one of the strongest tech stocks, rising from $25 to over $46. It gapped through support on heavy volume with good support now at $32-$35 and the rising 200-day MA. NVIDIA Corporation (NVDA), on the other hand, is in a well-established downtrend with a pattern of lower highs and lower lows. It also gapped lower on heavy volume with next long-term support at $8.30.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.