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This is an update to my May 24th post that made the bullish case for tech. Since then, lots of names have entered the green region of my leadership chart, some with breakouts / ATHs.
Let’s take a look at the price charts, starting with the broad QQQ and then the leading names.
QQQ Weekly. Potential breakout in the works.
AMZN Weekly. Had a false start in April but is setting up again. Just look at the 1-year base!
NVDA has been the leader in this recent tech rally. It made a powerful breakout 5 weeks ago after a false start back in April. Here’s the weekly:
And here’s the monthly for perspective on how strong this stock has been historically:
ADBE Monthly. Making a clean breakout after a year of going sideways. Just beautiful.
Here’s the monthly charts for SHOP, PYPL, TEAM. Tight consolidations within strong uptrends.
DOCU Monthly. Breakout.
Here’s the weekly charts for security names CRWD and NET.
SE, SNAP, ROKU Weekly. SE has been my biggest winner in the past month. Just look at how steady and strong its chart has been past several years.
Finally, I’ll throw in a couple charts in the biotech space.
ILMN Monthly. Flying after a 3-year base retest.
VEEV Monthly. Cloud for life sciences. Breaking out.
That’s all - I think we get the picture.
Important Disclaimer: This blog is for educational purposes only. I am not a financial advisor and nothing I post is investment advice. The securities I discuss are considered highly risky so do your own due diligence.