BALTIMORE (Stockpickr) If you own a lot of tech stocks, you have my condolences. The tech sector has been a performance drag in 2014, barely holding above break-even while the S&P 500 has fought its way almost 5% higher since the calendar flipped to January. But that could be about to change.
As the broad market muscles its way to new highs this summer, the tech sector is starting to get some love again. But not all names are created equal. Some tech issues are going to deliver stellar outperformance in the next few months, while others will continue to auger themselves into the ground. So to find the winners this week, we're turning to the technicals to identify five attractive trades from the technology sector.
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.