BALTIMORE (Stockpickr) -- Tech stocks have been killing it in 2014 -- since the calendar flipped to January, the Technology SPDR ETF (XLK) is up 17.5%, versus a 12.1% gain from the big S&P 500 index. While the broad market's 2014 performance is nothing to sneer at, technology stocks have outperformed materially.
And it doesn't look like the tech stock rally is even close to being over at this point.
From a relative strength standpoint, the tech sector continues to be one of the leaders, and after slowing down over the last few months, the group is rounding the corner and beginning to lead again as momentum builds. Put simply, even if you've missed the bullish price action in tech this year, there's still time to buy. That's why, today, we're turning to the charts for a closer technical look at five stocks that look ready for breakout gains.
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.