The tech market is in the red for the most part today. However, as I’ve said in the past, when I see a bearish day, the first thing that comes to mind is opportunity. So, I did some digging in the tech sector to see what was going on; and I have to say, I’m pretty excited to see what happens after hours and on Monday. Here are a few stocks that I’ll be keeping a close eye on…
Twitter Stock May Break Out
Twitter Inc (NYSE: TWTR)
Twitter is an incredible social network that has come across some rough times. Due to lack of planning and follow through in management, the company can’t seem to increase user data; and while we haven’t seen a complete plateau in users, it seems like that may be getting close. As a result, Twitter’s CEO has stepped down; and the company is working to correct the problem. The most recent thing they’ve done to do so is the acquisition of Whetlab. The acquisition is an attempt to use machine learning to better organize their data. While I see this as a positive, I have to say that long term gains will most likely not be seen until Twitter brings on a new CEO, and that CEO makes positive quantifiable changes. Nonetheless, we are seeing a bit of a spike in the value of the stock as a result of the acquisition. Thanks to the spike, TWTR is now trading close to resistance at $35.90. While I don’t think it will break resistance, I will be watching it closely as a break through resistance will likely turn into very bullish activity in the short run.
VASCO Data Security International Stock Is Up On High Volume
VASCO Data Security International, Inc. (NASDAQ: VDSI)
VASCO Data Security International is another stock that I’ll be watching closely. Today the stock is going through an incredibly bullish run; thanks to high volume. According to NASDAQ, the average volume on the stock over the past 50 days has been 1,487,883. However, today far more shares traded hands; with the number coming to 2,738,395. With the high volume, I have to imagine that investor sentiment is up; which will ultimately lead to gains, even if only for a short whole. So, this is another one that’s well worth paying close attention to as it may be time to start looking for pull-backs as buying opportunities.
LiveDeal Stock Is Soaring On Company Announcement
LiveDeal Inc (NASDAQ: LIVE)
Finally, LiveDeal is another stock that’s well worth keeping a close eye on. The stock is climbing today after the company announced that they’re are expecting to report record revenue and earnings growth in fiscal year 2015. In the announcement, Jon Isaac had the following to say.
“We are enthusiastic about how quickly LiveDeal continues to grow from being strictly a restaurant deal site to a national distributor of consumer products…Our hard work is paying off in terms of revenue generation and growth, and we anticipate that our future results will come to surpass our prior years’ revenues, while maintaining our dedication to providing both consumer and shareholder value.”
Since investing is all about seeing growth, this is likely to lead to long term gains. So, this is another one to watch for an entrance point.
Do You Know Of Any Others?
Are you watching any stocks in tech that are looking like potential opportunities moving into next week? If so, let us know in the comments below!