Tech Industry Stocks

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Tech Industry Stocks
Tech Industry Stocks

Tech Industry Stocks

LinkedIn stocks continued to fall and plunged by around 7.78%, which resulted in breaking the $238.06 support level, hence showing the current trading price at $237.21 a share. The bears managed to close the shares of social media giant for professionals below its 50-days moving average ever since it breached its support in mid-July.

The fast-growing technology and social media industry needs immense innovation and continuous innovation through R&D to offer utmost ease, convenience, and outstanding features to the users and where LinkedIn is apparently lagging behind.

The company needs a notable breakthrough step in changing traders’ sentiments, or else the bears might bring the stock price at a multi-month low level and could even target $206 a share level mark.

Facebook Aims Big

The awaited bearish retracement is over now where it took a dip and tested $45.5 level after which it bounced back up this week and is currently trading at 50.65 dollar a share level. The analysts stated that the bullish momentum of the stocks is quite strong and would give it further boost in the stock price. The stocks of the social media giant are downgraded from ‘strong buy’ to ‘outperform’ which may be taken as a hint of ‘overbought’ by investors; however the analysts have raised the forecasted price target of Facebook’s stock from $51 to $56 level.

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Considering the ample amount of revenues flowing in the company through mobile advertisements, the prospects are sound for the bulls to further stay and explore new upward targets.

Apple at Resistance

Do not sell above $502. Yes. That is what every trader needs to take into account here. The smartphone maker has recovered its loss in the stock price after it announced that it might soon be releasing new models of iPods where sleek and stylish designs caught the attention of consumers and of course the investors.

The stock price of Apple gained smoothly above $477 level after which it is currently trading at $498 level after bouncing back from $499.5 psychological resistance level. Traders are advised to not sell above $502 level, but they still can take a chance to short the stocks with tight stop losses at this area.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com