US stock indexes have staged a rebound after a sharp sell-off that was fueled by concerns over a potential recession.
Yesterday’s data, which largely aligned with expectations and showed signs of cooling price pressures, has boosted investor confidence and aided the bounce.
The technology sector has been under pressure in recent weeks and could be poised for a resurgence as investor sentiment improves.
For the , the key to regaining an uptrend will be overcoming the 17600 resistance level, which marks the starting point of the previous decline.
Breaking through this barrier could pave the way for a rally towards the historical high of around 18600 points. However, the path forward remains uncertain, as the Federal Reserve’s monetary policy decisions will continue to influence market sentiment.
This week’s release of the will provide crucial insights into the central bank’s thinking regarding interest rate cuts and the overall economic outlook.
As investors look to identify potential bullish setups in this sector, Investing.com’s screener can be a valuable tool.
In this piece, we will delve deeper into how we can utilize the tool to discover tech stocks that could be gearing up for a bull run.
Setting Criteria for Filtering High-Growth Tech Stocks
To build this portfolio, focus on selecting companies using technical oscillators that aren’t in the overbought zone and have shown a positive return over the past week.
Additionally, you can refine your search by selecting “Technology” in the sector filter.
Source: Investing.com
This approach identifies companies with short-term positive returns that still offer upside potential since they aren’t yet overbought.
However, your selection criteria can extend beyond technical factors. You can also consider various fundamental ratios like P/E, P/B, fair value, and financial condition to refine your choices further.
The basis of the assumptions of the described portfolio is the selection of companies primarily through technical oscillators that are not in the overbought zone while having a positive return over the past week.
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