SuccessFactors Floating Higher on a Cloud

Filed under: Stocks to Buy

If you're looking to jump in and take advantage of the surge of interest in cloud computing, you might want to take a look at SuccessFactors, Inc. (SFSF).

The stock made a bullish break up and through resistance recently, and it looks like the stock is giving traders who missed the move the first time another chance to get into a postion.

After consolidating in a trading range between $19.50 and $23.50 for the past five months, SuccessFactors finally broke above $23.50 to continue the uptrend that the stock started in early-March 2009 at $5. As with many breakouts, however, SuccessFactors hit some resistance at $26.50 and is pulling back toward the $23.50 price point that used to serve as resistance and should now serve as support.

This pullback looks like a great time to add to current positions or put on a new trade.

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SuccessFactors Floating Higher on a Cloud originally appeared on BloggingStocks on Wed, 22 Sep 2010 16:40:00 EST. Please see our terms for use of feeds.

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