BALTIMORE (Stockpickr) -- Yesterday's big leg up for long-suffering tech stocks is sending an important message to investors to start the week: The tech correction could be coming to an end.
All the big indices that got punished the hardest over the last two months ended up getting bid the highest in Monday's session. Two big examples are the Nasdaq Composite, which climbed 1.8% between the open and close, and the small-cap centric Russell 2000 rallied a whopping 2.4%. A return to tech sector leadership is presenting an interesting opportunity for traders too; with attractive setups getting ready to break out in a growing number of tech names in May, investors should give this convalescing space a second look.
That's why we're taking a closer look at the technical setups in five big technology sector charts today.
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.