As a trader, one of my favorite sectors to watch is tech. After all, not only do tech stocks tend to present solid opportunities, I’m intrigued by new innovation in the market as well. With that being said, here are a few of the tech stocks that I’m watching closely for opportunities…
Plug Power Is Currently Trading At Support
Plug Power Inc (NASDAQ: PLUG)
Plug Power stock has had a relatively interesting month. After trending up, the stock seemed to change directions on June 3rd; leading to downtrends. However, the downtrends have brought the stock to a solid support level at $2.69 per share. Since stocks that reach support are likely to climb moving forward, I’ll be watching this one closely. I don’t think we’re likely to see the stock decline past $2.69 per share; so, this may be a great entrance point for those interested in PLUG.
Ambarella Stock Declines On GoPro Estimate Revisions
Ambarella Inc (NASDAQ: AMBA)
Ambarella stock has been enjoying a strong bullish trend for some time now. However, recently Citi Financial released an update with regard to their expectations from GoPro sales. Since Ambarella makes the systems that allow GoPro to run, the two company’s stocks are strongly correlated; sending Ambarella stock down. However, I’m not sure that the declines are likely to last much longer; so, watching this one for a change in momentum may be advantageous.
NQ Mobile Reaches Support | Get Ready For Gains
NQ Mobile Inc (ADR) (NYSE: NQ)
NQ Mobile has been climbing quite a bit recently on high volume. However, after reaching resistance at $6.39 per share around 10am today, the stock has started a relatively big correction; sending the value down to support. Currently, the stock is trading just at the support level of $5.85; a line that I don’t think we’re going to see get crossed. So, watch this one closely as there may be a big uptrend to follow today’s meeting with support.
Himax Technologies Pulls Back | Opening The Door For More Profit
Himax Technologies, Inc. (ADR) (NASDAQ: HIMX)
After a recent Bank of America upgrade, Himax Technologies stock soared in the market. However, the climb seems to have reached a resistance point, and the stock has fallen slightly. Nonetheless, Himax Technologies is a great company with a fundamentally sound approach. All in all, I think that the bullish trend is likely to reign supreme. So, if you’re interested in HIMX, now may be the time to watch for a solid entrance point.
Do You Know Of Any Others?
Do you know of any other tech stocks presenting strong buying opportunities? If so, let us know in the comments below!