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5 Tech Stocks to Trade for Gains

Stocks in this article: FSLONNNERTSUSMSYMC

BALTIMORE ( Stockpickr) -- With data pouring in from every corner of Wall Street, it's bound to be a big week for Mr. Market. This morning, investors are already weighing the news that Congress may have come up with a tentative deal to fund the federal government. And later today, the Fed will be releasing a statement on its latest rate decision.

At this point, there's considerable speculation that the Fed will start thinking about hiking interest rates early -- but the speculation is just that for now.

Despite the torrent of fundamental news we're seeing this week, stocks are still trading off of technicals right now. That's an indication that while economic data are significant, investors don't know how to react to them as of yet.

>>5 Rocket Stocks Poised for Gains

So even though this morning's tepid bounce is being attributed to the fundamental news, it's really more of a correction from yesterday's selling than anything else. As long as stocks remain stuck in "neutral space" (that is, the space in between important support and resistance levels), the market isn't telling us anything important about shifts in sentiment.

On an individual basis, however, some stocks are presenting attractive trading opportunities right now -- especially in the technology sector, a group that's been outperforming the rest of the market for much of 2011. Today, we'll take a technical look at five tech sector names worth trading.

For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.

Without further ado, here's a look at five technology sector trading setups that could deliver breakout gains to your portfolio this week.

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