Technology Stocks for the Rich and Wanna Be Rich

The economy is still in a bind with limited growth foreseen in the near term.. But that does not mean that Americans are not out there shopping. The rich are always buying useless stuff like miniature giraffes and $500 T-shirts that you can’t wash at home. But after living within their means for a while many poor people now have some room on their credit cards and with the nice weather are jones’ing to use it on something other than gas.

With that in mind here are four trade set ups in the technology space to put on the radar for Friday that will fit every budget. Rich people first, poor people last. Just like you are used to it in the world.

Texas Instruments, ticker: $TXN

Texas Instruments, $TXN, at near 40 billion market cap is the biggest. Typically large caps can be slower movers but this one is in a bull flag after a move off of a base at 31.25. Its Relative Strength Index (RSI) is moving higher again after testing and holding the mid line and the Moving Average Convergence Divergence (MACD) indicator is increasing. Both support more upside. if it can break the flag higher over 33.67 then it has resistance at 34 followed by 34.72 and 35.30. The Measured Move (MM) off of the flag break would take it to 35.80. Not enough to make you rich, but if you are already a better return than the bank provides.

Juniper Networks, ticker: $JNPR

Juniper Networks, $JNPR, at just under $18 billion market cap is no slouch but a bit more nimble than $TXN. It bounced off of the historically important 29.50 area and is now approaching resistance at 33.11. As it does the RSI is trending higher and the MACD is increasing. If it can get through that resistance then it has resistance higher at 34.30 and 36.10 followed by 37. Keep it on watch.

Rambus, ticker: $RMBS

Rambus, $RMBS, is much smaller at just over $1.5 billion. But is is also moving out of a base, at 13.50. It has a RSI that is trending higher and a MACD that is positive but may be waning a bit. it needs to hold above 14.50 to continue to look good to the upside. If it does then look for resistance between 15.50 and 15.80 and then again at 17.25-17.60 and then 18.10.

Mellanox Technologies, ticker: $MLNX

Mellanox Technologies, $MLNX, is the smallest at under $1 billion market cap. It is approaching previous resistance at 31 after bouncing off of its 100 day Simple Moving Average (SMA). It has a RSI that has tested the mid line and is moving higher, and a MACD that crossed positive a few days ago and is increasing. Both supportive of more upside. If it can get through 31 then there is resistance higher at the All Time High at 32.84 from May 10, and then open air higher. The targets then on a MM higher come in at 36.10 followed by 38 and 42. Saved the best for the poor folk. You know the rich people did not read this far.

(As always you can see details of individual charts and more on my StockTwits feed and on chartly.)

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