These 6 Mid-Cap Tech Stocks Are Breaking Out
ANSYS (NASDAQ: ANSS) : This stock has an interesting chart, as the name has recently broke out to a new 52-week and all-time highs. The long-term chart is also very compelling, as ANSS has risen around 1,244% over the last 10 years. The company develops and globally markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia. In recent days, the stock broke above a resistance level and has since continued to climb. This could be a name that continues to gather momentum next week.
Cadence Design Systems (NASDAQ: CDNS) : This stock is traded at new multi-year highs on Friday and the chart continues to display a very identifiable and consistent upward trend. Year-to-date, CDNS has risen more than 26%. The company develops electronic design automation (EDA), software, hardware, and silicon intellectual property (IP). The stock continued to rise on Friday, notching a gain of a little better than 2%.
Morningstar (NASDAQ: MORN) : This financial technology stock was sold off hard earlier in 2012, but has since resumed a longer-term uptrend. Year-to-date, shares are roughly breakeven. Over the last 3 months, MORN has risen a little better than 6%. A potential buy point in MORN could be if the stock trends above the $60 level in the coming weeks as that would signify a breakout from a multi-month range.
Rackspace Hosting (NASDAQ: RAX) : In recent days, RAX has broken out to new 52-week highs, although the move from these levels has not been powerful. A further breakout next week could be a possibility. While there has not been a convincing breakout above the stock's previous 52-week high, the stock has surged from much lower levels over the last month, climbing around 36%. The breakout level in RAX could be at $60.00 and the new 52-week high in the stock is $60.55. On Friday, shares are trading just below $60.00, notching a gain of better than 1% on the session.
Splunk (NASDAQ: SPLK) : This stock showed up on the scan after soaring better than 14% on Friday after the company reported second-quarter earnings and lifted its full-year revenue view. The stock is now sitting at new multi-month highs, but shares are down nearly 4% in 2012, nonetheless. This could be a name to watch next week after Splunk's big surge on Friday.
Skyworks Solutions (NASDAQ: SWKS) : Skyworks has been a tremendous stock in 2012, rising more than 86%. Shares are now sitting at new 52-week highs and the upward trend in the name is strongly intact. On Friday, Skyworks is sitting above the $30.00 level and could be poised to stage a further breakout next week. Volume has been brisk in the name, and shares have risen almost 3% during Friday's trading session. This is a name that momentum traders should keep on their radar.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.