BALTIMORE (Stockpickr) -- Yesterday was a tough session for technology stocks. While the broad S&P 500 index slid 0.49% during Monday's trading, the tech-heavy Nasdaq dropped more than double, with a 1.18% loss on the day.
That's troubling for investors trying to catch stocks' momentum run in 2014 -- the tech sector has driven some of the market's biggest gains in the last 15 months. But added flux doesn't have to be a bad thing; this correction in tech stock pricing is providing some big opportunities in some big tech names this week.
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Today, we'll take a technical look at five of them.
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, let's take a look at five technical setups worth trading now.