BALTIMORE (Stockpickr) -- Tech stocks are back in a big way this summer. After correcting hard in the second quarter of this year, the technology sector has climbed 8.9% higher since the start of May. That's nearly double the performance of the rest of the S&P 500.
But don't worry if you've missed the move in tech. With the broad market hitting new highs this week, the rally looks far from over. And technology stocks look likely to keep leading as we head into September.
Of course, that doesn't mean that all technology stocks are going to do well in the month ahead.
That's why, to weed out the best-positioned names, we're turning to the charts for a technical look at five big tech names to trade for gains this week.
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.
Up first is Salesforce.com (CRM) , a name that's up big in the last week on the heels of strong earnings numbers. It's about time too. Salesforce's shares have seen extremely chopping trading in 2014, peaking back at the end of February and treading water ever since. But CRM could be making a second attempt at highs in the month ahead. Here's why.