Three Speculative Tech Plays

The bulls will need to see some strength into the close today and, ideally, into end of the week to help impede the recent decline in the broader market. In optimistic preparation for this potentiality, I want to look at three speculative short-squeeze plays in the technology sector.

Teradyne (TER) manufactures semiconductor testing equipment, and there is a 12% short interest in the stock. An inverse head-and-shoulders pattern has been forming on the daily chart over the last two months, with neckline resistance reinforced by the 200-day moving average. Moving average convergence divergence and the relative strength indicator have moved above their centerlines and Chaikin money flow is positive. The stock price is testing resistance and a close in upper candle range above the neckline would signal a breakout and the potential for a short-covering rally....255 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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