YAHOO – Daily Chart
Yahoo is in an uptrend with strong share accumulation. It continues to form bullish price patterns and points to higher prices in the coming week.
Research In-Motion/Back Berry WEEKLY Chart:
This is a weekly chart so things move much slower. But overall the pattern on BBRY is very bullish and if the broad market does not start a correction this stock price should test $30 per share this summer.
Apple Daily Chart:
Apple topped out months ago but is now starting to look ready for a bounce. It is forming a possible stage 1 base, and an inverse head & Shoulders pattern. Both point to higher prices and a gap window fill which is the next higher volume resistance zone.
XLK – Technology Sector Exchange Traded Fund
While I like the potential of individual
stocks you are subject to individual news etc the more conservative trader can focus on a basket of technology stocks
using the XLK ETF which shows higher prices in the next week or two
also.
Another way to play this is through options
which is technically the least risky trading strategy there is when
done correctly.
Technology Trading Conclusion:
In short, I like how the technology sector is looking for a continued move higher. Keep in mind the intermediate cycle is topping out for the SP500 soon. Stocks may just reach their recent highs then roll over in a big way. So any gains should be protected with partial profit taking and a protective stop.Please share this article
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