Ariba Breaks Technical Support

Shares of Ariba ARBA are cascading lower today; currently, shares are off 6.49%, trading at $24.21. The stock has been bouncing for the past few days, but broke down yesterday. This confirmed that a bear flag was in place, setting up for today's lower prices. Shares of Ariba have now broken down through the August 9th low of $24.52. Expect the $23.50 level to be next support, though the trends are now working against shares with the 13-day and 50-day moving averages downward-sloping. Ariba seems like a good risk/reward downside play. Note that 2.27% of shares are short. Ariba, Inc. is a provider of collaborative business commerce solutions for buying and selling goods and services. The company combines software-as-a-service technology with a Web-based community and a global network of trading partners.