6 tech stocks on sale

These are priced below their 50-day moving averages.

By Benzinga Sep 24, 2013 10:06AM

Circuit Board © Datacraft Co Ltd, imagenavi, Getty ImagesBy Tim Parker

The stock market continues to move higher despite a few days of slight correction and consolidation. This is making it more difficult to find value-priced stocks.

 

If you’re looking for names in the tech field, we put together a list of stocks priced below their 50 day moving average.

 

AOL

After forming a head and shoulders pattern that triggered a sell-off, AOL (AOL) is now challenging its 50 day moving average. It tried and failed Monday but overall market weakness likely had an effect on its efforts. Does AOL have a future in a sector full of young companies with more relevant and sexy technology?


Blackberry

You know the story. Blackberry (BBRY) appeared to be on death’s door after announcing that it would lay off about 40 percent of its employees. On Monday, however,  it said that it had entered into the beginnings of an agreement that would take it private for $9 per share. Yes, the stock is below its 50 day but this stock is on the list for another reason. When news around a company is this volatile, consider steering clear until the dust settles.


AT&T

Since its April high, AT&T (T) has been in a downtrend resulting in a 13 percent selloff. The 200 and 50 day moving averages converged and are within 14 cents of each other. The stock is sitting just below these key levels. After breaking out, it wasn’t able to confirm the move but look for the stock to continue to challenge these levels.

 

Verizon

Verizon's (VZ) stock has followed AT&T’s path, but may have more upside potential in the short-term.

 

Cisco Systems

The stock has had a volatile year, but its overall uptrend is still intact despite a severe move to the downside in August. Cisco (CSCO) was down nearly one percent Monday but held its 20 day moving average. With its 50 day not far above current levels, look for the stock to challenge it once the market regains strength.

 

Broadcom

Broadcom (BRCM) spent the first half of 2013 trading in a well-defined range until the bottom dropped out of it in July following an earnings miss. It slowly clawed its way back to its 50 day where it’s struggling to break out. Technically, the stock looks like it wants to fill the earnings miss gap. If it does, there’s a lot of upside if it can break through the 50 day with volume.

 

Remember, these are research recommendations. Never take somebody else’s word when it comes to the deployment of your money.

 

Disclosure: At the time of this writing, Tim Parker had no position in any of the mentioned companies.

 

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1Comment
Sep 24, 2013 10:46AM
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AOL, AT&T and Verizon are tech stocks?  I don't think so try consumer and communications.
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