Riverbed Technologies Pocket Pivot on 082410
Riverbed Technologies (RVBD) has been distinguishing itself as of late as another cloud-computing play with a powerful, high-volume breakout on July 23rd, and some solid volume support at its 50-day moving average on August 12th with the stock closing that day in the upper part of its daily trading range, per the daily chart of the stock below. Yesterday the stock indicated a pocket pivot buy point with volume higher than the highest down-volume day in the pattern over the prior 10 days. RVBD found support at its 10-day moving average yesterday and bounced up strongly on a pocket pivot volume signature. We would use the 10-day line as our selling guide.
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