I’ve been clear that this tech investor hasn’t and won’t invest aggressively until we have greater geopolitical certainty. With only 19 days until a perhaps contested U.S. presidential election, it’s not the time to be bold, particularly when too few tech stocks are reasonably priced. I’m more interested in and worried about resolving the spat between the Democrats and Republicans over approving the follow-on fiscal stimulus to the CARES Act. When that deal is done, that may be my green light to buy my favorite tech names. In the meantime, I’m searching for ideas. Specifically, I’m looking for the shares of tech companies that I admire that have at least +10% upside to my target price and are trading at 5% or more above the stock’s 50-week moving average price. The latter is my stab at technical analysis, of which I’m no expert. Of the hundreds of stocks on my Watch List (this is a thing), these made the cut:
I’m not making a recommendation to buy any of these. I’m “just sayin’” that I’m intrigued with this group within my universe of tech stocks that are too expensive or that are technically damaged after the correction that began around Labor Day.
Check out my other blog; Paul Meeks Weighs In On The Delay of The Next Stimulus Bill and The Current Market as well as our recent feature in the Don’t go all in on tech unless it falls into bear market territory, investor Paul Meeks says for additional details.
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