As May begins, the S&P 500 stays strong and the tech sector is buzzing. Many traders wonder if they should join stocks that are climbing fast. Good news: a few tech names look like they are just starting their upward moves, which may give extra room to grow.
Take‑Two Interactive (TTWO)
Take‑Two makes video games. It used to sit in the Communications Services group but still belongs under the tech umbrella. The price recently jumped above its recent high, showing stronger buying.
In mid‑April, TTWO faced resistance near $220 and the RSI hovered around 60. This week it moved past that level and the RSI climbed above 60, indicating strong buying pressure.
If the price can also clear the 200‑day moving average around $230, it may start a new building phase. A drop back below $220 would warn of weaker demand and could send the stock back into its prior range.
RingCentral (RNG)
RingCentral provides cloud‑based phone services. A member asked about its chart after it broke through $42.50 resistance. Stocks that are clearly rising are usually safe until something proves otherwise, but this one shows good momentum.
The company will report earnings soon, and the price jump to a new 52‑week high suggests a positive outlook. The moving averages are in the right order: the 21‑day EMA sits above the 50‑day SMA, which stays above the 200‑day SMA.
The RSI briefly rose above 70, so a short pullback may happen. A simple stop could be set near the 21‑day EMA around $42. As long as price stays above that level, the uptrend looks strong.
CrowdStrike (CRWD)
CrowdStrike sells cybersecurity software. While chip makers have lifted the tech index, CrowdStrike is beginning a new buildup. The stock moved back above its 200‑day line this week, a sign of fresh buying.
The break above the 200‑day line came with the RSI climbing past 60, confirming momentum. Before the breakout, the price rested just below the line, matching swing highs from March and April.
A Fibonacci look shows the stock faced resistance at each retracement level from the February low. The next hurdle is the 61.8 % level near $480. If the price can clear that, the next target could be the November 2025 high.
For more details on these three stocks and other ideas for May, watch our latest video.
Disclaimer: This article is for educational purposes only and does not constitute financial advice. Always assess your personal situation or consult a professional before acting.
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