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Must-See Charts: 5 Breakout Trades From the Tech Sector


First up is $2.4 billion technology consulting firm Sapient (SAPE). Sapient has been more or less flat on the year, but that's not a bad thing. All the while, it's been setting up a textbook bullish setup. That makes SAPE a big breakout candidate for April.

>>2 Tech Stocks Spiking on Big Volume

Must Read: 2 Tech Stocks Spiking on Big Volume

Sapient is currently forming an ascending triangle, a bullish setup that's formed by a horizontal resistance level above shares (in this case at $17.75) and uptrending support to the downside. Basically, as SAPE bounces in between those two technical price levels, it's getting squeezed closer and closer to a breakout above that resistance line. When that happens, it's time to be a buyer.

Relative strength has been in a solid uptrend for the last year, an indication that SAPE is continuing to outperform the broad market on both the up-side and the down-side. As the S&P 500 continues to show some corrective cracks, relative strength is the single most important technical indicator you can have in your toolbox.

The 50-day moving average has been a solid proxy for support lately, so it's a good place to put a protective stop when buyers take out resistance at $17.75.

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IBM $144.75 -1.60%
NVDA $35.53 -1.90%
MSI $74.79 -0.73%
PANW $147.88 -2.40%
SAPE $24.98 0.00%


Chart of I:DJI
DOW 17,691.74 -139.02 -0.78%
S&P 500 2,054.89 -20.92 -1.01%
NASDAQ 4,749.08 -56.2110 -1.17%

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