Pre-Market Analysis on Akamai Technologies, Yandex, IAC/InterActive, and Renren
LONDON, April 2, 2013 /PRNewswire/ --
Economic growth indicators suggest temporary slowdown in the U.S. economic momentum. Weaker-than-expected manufacturing data put a restraint on stock markets and major indices concluded the first trading day of second quarter in the red zone. Markets showed across the board weakness and technology sector also remained under pressure. However, the trading volumes were thin, indicating that the secular bull trend is still intact. Our research team took a look at the technology sector and covered major companies like Akamai Technologies Inc. (NASDAQ: AKAM), Yandex NV (NASDAQ: YNDX), IAC/InterActive Corp (NASDAQ: IACI) and Renren Inc. (NYSE: RENN) which trades under the Internet Information Providers industry. StockCall has posted free technical research on AKAM, YNDX, IACI, and RENN which can be downloaded upon sign up at
http://www.stockcall.com/signup
Akamai Technologies Inc.'s stock extended its YTD losses with 1.19 percent decline in its Monday's trading session. The stock traded in the range of $34.81 and $35.41 and closed at $34.90. However, it traded lower than average number of shares at 1.95 million. The stock is in a bearish mode and is likely to maintain the trend in the coming sessions. Its first resistance level is at $35.31 and it may test the support level of $34.44 in the coming trading sessions. Akamai Technologies Inc. commands market capitalization of $6.21 billion. Sign up and read the complimentary report on AKAM at
http://www.StockCall.com/AKAM040213.pdf
Yandex NV traded in the range of $22.73 and $23.36 in its latest trading session and ended it at $22.86, down 1.21 percent. The stock's 52 weeks range stands at $16.65 and $28.14. The company has lost 14.92 percent of its value in the past 12 months, while it gained 5.1 percent on YTD basis. It is in a bearish mode and may find its first support level at $22.57. Upon breaching this level, the stock may go down to $22.32. It is trading below its 20-day moving average of $23.49. The free report on YNDX can be downloaded by signing up now at
http://www.StockCall.com/YNDX040213.pdf
In-line with the downward trend shown by broad market indices, IAC/InterActive Corp.'s stock finished 1.73 percent lower at $43.90, with volume down from daily average of 1.28 million to 1.09 million. The stock is down so far in 2013 with its year-to-date loss at 5.04 percent. However, the stock currently shows a neutral trend which is further confirmed by its MACD chart. IAC/InterActive has its first support level at $43.20. Upon breaching this level, the stock may go down to $40.60. It traded in the range of $38.20 and $55.57 in the past 52 weeks. Free report on IACI can be accessed by registering at
http://www.StockCall.com/IACI040213.pdf
Renren Inc. traded in the range of $2.74 and $2.93 in Monday's trading session. Its volume stood at 1.82 million shares, up from its average daily volume of 1.44 million. Renren closed the session at $2.76, down 4.50 percent. The stock is currently trading in-line with its short-term moving average price of $2.76. In the coming sessions, the internet company is expected to go as high as $2.93, while its first support level is at $2.56. The stock has lost 16.36 percent of its value on a YTD basis, while its 12 months loss stands at 50 percent. The company commands $362.25 million in market capitalization. Register with StockCall and download the research on RENN for free at
http://www.StockCall.com/RENN040213.pdf
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