Good Wednesday, Traders!
Technology stocks tend to be some of the more expensive stocks in the market.
The idea is that technology brings new ideas, products and services to the market seemingly out of nothing, and so traders are willing to pay up for these stocks.
But now and again, you can find leading technology companies on the cheap. And today, I’m sharing one of them with you from my financial advisory service, Josh’s Top 5.
This stock is a mega technology company based in Germany that is depended upon by countless other companies around the globe for its technology.
But it’s cheap. It is currently trading at a price to intrinsic (book) value of only 4.2 times and a price to trailing sales rate of only 3 times.
This compares to the benchmarkS&P Information Technology Index with its average price to book at 7.63 and the average price to sales at 11.66 times.
Top 5 for Top Successes
At Top 5, we continue to find top stocks that the market is in the process of bidding up for near-term gains.
And according to our Trade Tracker, we continue to rack up hit trades. So far, the number of hit trades is running at 113! And this equates to 80.14% hit trades out of all of the trades posted.
The average gain for the hit trades is now running at 7.40%. And overall, the total gain from all hit trades is running at a whopping 836.22%.
So, there are indeed a great deal of top stock trades setting up inside Josh’s Top 5.
Today, I’m sharing one that has my particular attention…
The Cheap Tech Stock Setup
The stock is SAP SE (SAP), and its technology and services are used by companies around the globe to manage all facets of their operations.
As it’s cheap on its core valuation, the chart shows how it is set up for a nice gain.
The US ADR stock price is setting up for its turn and now is continuing to advance from its entry level at $103.92 towards its target price of $117.46 for a nice 13.03% gain opportunity.
For more on this and the other trades in the works for Josh’s Top 5 click here.
And for more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.
I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.
And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!
Keep On Trading,
P.S. I have been teaching more and more traders how to make their own trading accounts work so well that they can effectively become a side job with plenty of regular earning opportunities.
To learn how to do this effectively using the strategies developed inside my War Room, click here!
The post How to Find Leading Tech Stocks at Bargain Prices appeared first on Josh Daily Direction.
