Forget FANG. According to Turning Point Analytics, small-cap tech is the place to be.

In a new report, Turning Point argued small-cap tech stocks are well-positioned to continue to outperform the rest of the tech sector. So far this year, the Russell 2000 TECH Index is up 13 percent, more than double the 6 percent gain of the S&P 500.

Since crude oil bottomed on February 11, the Russell 2000 TECH is up 38 percent, while the NDX, TPA BIGTECH, Russell 200 and Russell 1000 TECH indices are up 20, 28, 29 and 24 percent, respectively.

Turning Point warns traders that small-cap tech may be overbought in the near term, but there is plenty of room for outperformance in the months ahead.

The firm points to a long-term chart of the Russell 2000 TECH/NASDAQ 100 to highlight just how much upside small caps have remaining.

“Chart 6 shows…

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