Best stocks to buy right now in the tech sector

Related Topics

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

In the current economic climate, technology is one of the fastest growing industries. There is no doubt that it is a dominant sector in the stock market. The stock market has been dominated by big tech companies like Apple, Alphabet, Facebook, Amazon, and Microsoft for years. Therefore, it is necessary to have an understanding of the best tech stocks to buy right now.

Stocks in the technology sector remain at all-time highs. Since COVID-19, the Nasdaq 100 has more than doubled and is seven times higher than it was a decade ago. But investors remain nervous. As if logic dictates, a correction must surely follow such a big move.

A bull market in tech stocks continues in 2021 after a red-hot year in 2020. In spite of the stock market crash in 2020, the tech-driven Nasdaq surged 43.6% last year. The trend indicates that tech stocks can yield big returns.

Tech companies have been driven by the COVID-19 pandemic. In light of this, here are three of the best tech stocks to buy now.

The shares of The Magnachip Semiconductor Corporation (NYSE: MX) gained by 5.01% during the trading session on Monday, reaching a low of $18.40 while ending the day at $19.97. During the trading session, a total of 1.22 million shares were traded which represents a -243.2% decline from the average session volume which is 356.41K shares. MX had ended its last session trading at $18.87.

Focusing on the company’s market volatility shows that it has a 1-Week Volatility index of 3.32%, and 2.45% for the month. This stock’s Average True Range (ATR) currently stands at 0.49, with the beta factor poised at 0.95. The indicator of Volatility helps exhibit the extent to which a stock is likely to plummet or climb when the rest of the market also dips or surges. If a stock has a beta score above 1, then its rate of volatility is high. Figures lower than 1, therefore, means that the stock’s volatility at that particular moment is low.

Riot Blockchain Inc. (RIOT) shares have gained 0.74% at $29.81 in Tuesday’s premarket session. Riot Blockchain Inc.’s stock added 4.63% to finish last trading session at $29.59. The stock recorded a trading volume of 11.34 million shares, which is below the average daily trading volume published for the last 50 days of 11.17 million shares. The shares of Riot Blockchain Inc. have advanced -0.70% in the last five days; however, they have gained 5.94% over the last one month. The stock price has shed -6.48% over the last three months and has gained 656.78 percent so far this year. Further, the stock is being traded at a price to earnings ratio of 88.59. Additionally, it has a price to sales ratio stands at 45.26.

Wall Street analysts tracking the Riot Blockchain Inc. (NASDAQ: RIOT) stock on daily basis. Out of 6 analysts, 6 deeming the stock a Buy and 0 gave it a rating of OVERWEIGHT. Another 0 recommended that riot is a HOLD, while 0 rated it UNDERWEIGHT and the 0 recommended SELL. If we look at the broader picture, the above ratings give the stock an average analyst rating of 1.50.

Texas Instruments Incorporated (TXN) is soaring on the charts today, down -0.32% to trade at $199.55 at last check in premarket trading. On Monday, shares in Texas Instruments Incorporated rise 0.57% to close the day at $200.20. The volume of shares traded was 4.26 million, which is higher than the average volume over the last three months of 3.28 million. During the trading session, the stock oscillated between $199.06 and $202.26. The company had an earnings per share ratio of 7.17. TXN’s stock has gained 2.71% of its value in the previous five sessions and -0.22% over the past month, but has gained 21.98% on year-to-date basis. The stock’s 50-day moving average of $192.65 is above the 200-day moving average of $185.42. Moreover, the stock is currently trading at an RSI of 59.98.

Volatility is just a proportion of the anticipated day by day value extend—the range where an informal investor works. Greater instability implies more noteworthy benefit or misfortune. After an ongoing check, Texas Instruments Incorporated (NASDAQ: TXN) stock is found to be 1.78% volatile for the week, while 1.89% volatility is recorded for the month. The outstanding shares have been calculated at 923.00M. Based on a recent bid, its distance from 20 days simple moving average is 2.87%, and its distance from 50 days simple moving average is 4.04% while it has a distance of 8.05% from the 200 days simple moving average.

Sign up today for our free weekly newsletter!