The S&P 500 officially closed at a new record on Thursday, and the Nasdaq is sure to follow. We’ve seen tech stocks quietly recover this month. And, the technicals for the sector and the broader Nasdaq Composite Index are definitely warming up. To celebrate buyers’ return, as well as try to bank some coin, we’re spotlighting three tech stocks to buy.
In scanning for the best trade ideas, I focused on breakout and retracement patterns. In addition, I wanted tickers with the wind at their back. Momentum on the index level has been sluggish – especially with the S&P 500. It appears the summer doldrums are upon us. Volatility is dead, and stocks await a catalyst to waken them. With that as the backdrop, I focused on picks that showed signs of life – relative strength, in other words.
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