In today’s “Off The Charts” segment, Jim Cramer checked in with colleague Bob Lang on three strong tech sector charts to watch. Also known as the three Z’s in tech, they are Zendesk (ZEN), Zebra Technologies (ZBRA) and Zscaler (ZS). Shares of Zendesk have rallied 44% for the year so far, while Zebra has gained 37% and Zscaler has vaulted a stunning 78%.
Lang noted the daily chart of Zendesk is above all of the stock’s moving averages, and the bullish move is confirmed by a bullish crossover in the MACD momentum indicator. Furthermore, the stock’s relative strength indicator has remained in overbought territory for so long it has become what technicians call “embedded” in bullish mode.
Lang noted the same patterns in both Zebra and Zscaler, making all three stocks strong buys.