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5 Buyable Tech Sector Trades

Tickers in this article: CCI FSLR AUO WIT CTRX
BALTIMORE ( Stockpickr) -- The tech sector looks like it's turning around -- and five names look best positioned to benefit in November.

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The past few months have been tough on tech stocks. While the S&P 500 has managed to eke out a 3% rally over the course of the last six months, for instance, tech has fallen like a rock, down more than 12% on average over that same period. That's sent investors fleeing from tech to spare themselves from poor performance in 2012. But the industry looks like it's finally turning around.

Let's take a technical look at five tech sector names that are just starting to reverse off their lows.

For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.

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So, without further ado, let's take a look at five technical setups worth trading now.

First Solar

First up is First Solar (FSLR) , one of the most well-known names in the solar business -- and as a result, one of the stocks that's gotten hit the hardest as solar technology lost its allure on Wall Street. FSLR should be a familiar name to regular readers of this column -- we took a look at this stock a couple of weeks ago .

Now, though, with the technical setup in shares further along, it's worth a second look.

First Solar is currently forming an ascending triangle setup, a pattern formed by horizontal resistance to the upside and uptrending support below shares. As shares bounce between those two technical price levels, they're getting squeezed closer and closer to a breakout above resistance. For FSLR, the buy signal comes when shares push through that $26 resistance level.

The last time we looked at this stock, it had only made contact with $26 resistance a couple of times, but now, it's hit its head on that level a couple more; that indicates that there's still selling pressure up at $26. Even so, shares are consolidating right underneath that level right now, so a breakout may not be far off. When it happens, I'd recommend buying with a protective stop just underneath the 50-day moving average .

AU Optronics Corp.

Taiwanese flat panel display maker AU Optronics Corp. (AUO) is forming a similar setup right now. Just like FSLR, AUO is sporting horizontal resistance just above $4 and uptrending support below shares. Unlike FSLR, though, AU Optronics is testing a breakout above its resistance level this week -- here's how to trade it.