3 Software Stocks on Cloud 9 Today

Cloud-based software stocks are propping up Wall Street today, for no reason in particular

Managing Editor
Jun 27, 2024 at 1:48 PM
facebook X logo linkedin

Although there's no specific catalyst, cloud-based software providers making outsized moves today. Three names in particular; Palo Alto Networks Inc (NASDAQ:PANW)Adobe Inc (NASDAQ:ADBE), and Salesforce Inc (NYSE:CRM), are all on the uptrend after suffering steep drops after recent earnings reports. 

PANW is up 5.4% to trade at $343.09, its highest level since a massive post-earnings bear gap of 28.4% on Feb. 21. The shares are up 16.5% in 2024, with support in place at their upward-sloping 200-day moving average. 

ADBE is 3.3% higher to trade at $546.11 at last check, set to close at its highest level since a 13.7% post-earnings bear gap on March 14. The shares are down 8.4% year-to-date, but are forming a bullish flag pattern on the charts after their 14.5% pop in the wake of an upbeat corporate report on June 14. 

CRM is the best Dow stock today by a wide margin, up 6% to trade at $257.65. The shares are still contending with their year-to-date breakeven level after a 19.7% post-earnings drawdown on May 30. Year-over-year, the stock is 21.4% higher. 


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!