It is no secret that many tech/Internet stocks have been beaten up over the last several months and that action has pushed the NASDAQ index into a bear market phase. However, not all tech companies are in downtrends. I have three tech stocks that are in decidedly bullish trends and I will be discussing them today.
The first stock I will be looking at is Apple (NASDAQ:AAPL). It would seem that Apple had lost its way since Steve Jobs' passing, but yesterday’s closing over $600 puts a little bit more mojo into the stock of Apple. Now remember, this stock is going to split and there's all kinds of things going on with it. The important element for me is the general trend, which according to the Trade Triangles is positive.
The next stock I will be looking at is Cisco Systems (NASDAQ:CSCO). While not as sexy as Apple, this stock appears to have good upward momentum and looks to be moving higher from current levels.
I will also be looking at Advanced Micro Devices (NYSE:AMD). Unlike Apple and Cisco, which are traded on the NASDAQ exchange, AMD trades on the NYSE.
I will also be looking at the social media stock, Twitter (NYSE:TWTR), which trades on the NYSE. The stock has not fared well and is now in a downtrend after all the hype. I will show you exactly where you would've gotten short this stock and how you should trade it now.
The last stock I will be looking at is Yelp (NYSE:YELP), which trades on the NYSE. This stock is coming to a very important Fibonacci level which could mean the difference between a reversal or a continuation of the current downtrend.
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