3 Tech Stocks Set to Break Out

These three tech leaders are healthy proof the bull’s best leg is yet to come…

This story was originally published here.

A seeming disconnect between a historic bull run and everywhere else other than Wall Street may have investors believing cash is king. However, a forward-looking market and one made up of stocks continues to show strong signs of life. And in some cases, investors are being offered healthy price charts of leading tech stocks to buy right now. Let me explain.

No doubt stepping to the side, out of harm’s way and fully into cash in a market that appears increasingly disrespectful of today’s health crisis and social justice which will undoubtedly continue to take a toll on Americans and the economy seems prudent. The market has to have gotten ahead of itself, right? And it’s hard to blame that mindset.

The S&P 500 is up nearly 40% since the March 23 bottom. Among the more positive adjectives to describe the price action, it’s amazing, as well as historic. It’s also proven determined enough for the broader average to briefly enter positive territory on the year and make mincemeat of an equally dazzling and brief bear cycle. Covid-what?? Additionally, the tech-heavy NASDAQ Composite is up 12.2% year-to-date at record highs!

That said, what’s going on? Initially the broader market rally needed little help. Conditions for risk assets were, quite simply, grotesquely oversold as they worked their way out of a “the end is near” -type of panic. To be fair, numbing headlines of the novel coronavirus and outlandish market volatility didn’t offer an outright RSVP. Nevertheless, it was a spectacular opportunity within the framework of a zombie and economic apocalypse.

Next came all the money. Tons of it was sent to businesses, consumers and an important injection of support from the Federal Reserve to shore up the financial markets. The rally’s backbone could be as simple as that. There is after a well-known saying on Wall Street that warns investors against fighting the Fed.

Investors are free to throw in a side of bullish algorithms and performance chancing money managers to help account for the record-breaking rally. However, the truth is that price charts led by tech companies prospering in today’s new and socially-distanced normal have also largely supported the bullish environment the entire way without requiring investors to dig deeper into those always questionable “whys.”

So, what’s next? Nobody knows for certain, and today’s healthy market could always end in the blink of an eye. But in a trend which remains friendly, where breakouts continue to work much more often than not, there are three leading technology names whose stocks are saying we’re not done yet for those willing to listen rather than judge:

Tech Stocks to Buy: Netflix (NFLX)

The first of our tech stocks to buy are shares of Netflix. The streaming giant was technically making all the right moves just prior to late February when the coronavirus pandemic first took hold of U.S. markets. Shares had just broken above mid pivot resistance within a 20-month long “W” corrective base, and looked primed for a continued rally to new all-time-highs. The pattern breakout wasn’t meant to be, but bulls did quickly regroup.

Shares of Netflix moved quickly to be an early favorite of investors. A fast reversal from its corrective low resulted in technical leadership, as well as new all-time-highs out of its newly-flawed — but hard-to-fault — weekly base.

The past month has seen new highs in Netflix. However, a rotation has also resulted in a period of under-performance. It even produced a bearish head and shoulders pattern formed around its former 2018 high. But the dynamics of the questionable price action has quickly changed for the better in this stock to buy.

As of Tuesday’s close, shares have broken above Netflix’s closely-aligned former high and pivot of the bearish right shoulder. Almost without question the latest move in shares have larger bullish implications. For now, I’d recommend simply monitoring Netflix. If shares are still within 5% of 2018’s high and signal a stochastics crossover on the weekly time frame, this leading tech name deservedly becomes a stock to buy.

Editor's Note: To keep reading, click here.

65 Ways You Can Make Extra Cash in This Crazy Environment

With the market crisis moving into our rearview mirror, folks are now looking for ways to get back to making money.

Neil George wants to show you how to get his new book that profiles 65 simple ways to earn large amounts of work-free income. 

…extra cash that you can collect ON TOP of your Social Security check… 

…without messing around with crappy jobs. (Pizza delivery driver? No way.) 

These are PROVEN cash-gushing strategies… the kind typically used by the wealthy elite. 

And the best part is… 

Neil George has set aside copies of his book, Income for Life, and he’s willing to send you a hardback version today ABSOLUTELY FREE (just pay shipping). This may be the last time we offer this.

(Just 517 copies left, so click here to claim yours before it's ripped away.)

Here's just a sample of what you can find inside: 

  • Use what Neil calls the “FHA Loophole” to get the government to pay your mortgage — PLUS receive hundreds in extra cash on top.(Page 217) 
  • Collect $100s for pictures in old family photo albums! Believe it or not, there is an easy way to turn your old artwork/photographs into $100 bills (certain businesses are desperate). (Page 297) 
  • Get paid every time your favorite song gets played on the radio! This little-known website allows you to tap into royalty payments every time your favorite song is played on the radio. Some lucky folks collect thousands of dollars a year! (Page 307) 
  • Pocket upwards of $197 PER HOUR simply by taking a walk through the woods in the fall… or $137 while visiting your favorite beach in the summer… and many, many more! 

This book is flying off the shelves and this may be the last run of copies we print.  

So if you don't claim your copy of Income for Life today, we'll send it to the person behind you in line… 

Don't let that happen. Click here to claim your copy now!