Run Semi Run: Four tech ideas that have room to run
- Posted by admin
- on July 7th, 2011
Huge run for the market since the Greek no-default bottom but we believe the semi-tech space has much more room for expansion. Our favorite names are NetApp ($NTAP), Rackspace Hosting ($RAX), Cypress Semiconductor ($CY) and Qualcomm ($QCOM). Here are the charts and some notes:
This data storage company basing right under trend-line and over all major moving averages; $NTAP looks good to go.
$QCOM extended move back to highs and would look much better if it could flatten out under 60. Excellent strength in this wireless communication leader.
We have had our eye on this semi stock for a while as $CY has shown excellent relative strength within its sector. The big area this rock-star semi has to overcome is 24 which would take it to all-time highs. Weekly and daily look great on Cypress.
Rackspace is one of the favorite cloud stocks among technology investors and the chart reflects the love — almost at all time highs near 46.5 for $RAX. Just like Qualcomm any basing here would make this a much better chart as it would add a handle to the cup.
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