As I previously mentioned on my SQ analysis, Semis have been hit hard regardless of great earnings. With semis currently oversold, I see semis run up for the next two weeks along with the likes of AMAT, TSM, QCOM, NVDA, ON, and IIVI. AMD beat earnings and has been taking INTC customers for the past 2 years. INTC is in panic mode trying to regain back their...
SQ has been hammered along with the rest of tech/semi/fintech for the past 2 weeks. With IWM classic bounce off upward trend line with volume and SOXX reversal due to oversold conditions, I can see tech and semi bounce this week for a bull run back to highs. Energy money will flow back to tech while it rests due to overbought conditions and job numbers being...
SMH is at an interesting juncture. The world will be defined by chips. Demand is soaring. Supply will eventually catch up. This pattern is typically part of a continuation in a trend. But it needs to continue to hold the trend to capitalize on the A-T breakout to come.
AMAT has been stair-stepping higher in a bull trend lately. In my opinion AMAT has been a leader in one of the stronger industry groups within tech (semiconductor equipment). Yesterday it printed an inverted hammer after failing to make a significant push below the previous low on 4/19. This is the line in the sand. Today it opened near those lows but pushed...
It is not a smart decision to open long positions in the semiconductor sector right now (TSM, NVDA, ASML, INTC, AAMT, AMD... etc).
As the chart show, the overall performance on SMH is still on the downside trend, blocked by the resistance line on the necklace of the head-shoulder pattern.
But it doesn't mean that it is time to short the semiconductor sector, it...
I'm bullish on semi-conductor stocks. Especially small & mid-cap names. Check out Silicon Motion Technology. I like the set up here.
P/E = 17.73
EPS Growth = 483%
Nice entry point IMO.
New to charting. Let me know what you think?
Insider selling of $86 Million final three days of December.
I anticipate an attempt at regaining $63 on Monday by this one and this is where I plan to initiate a short position by using February or March Puts.
Disclaimer: Not trading advice.
Basing here nicely as long as it holds above 74 it remains bull bias. Weekly view here needs close over 86. AMD just released its new GPU's which look promising and can compete against $nvda new RTX 3000's series GPU's. I will be curious to see if they can have adequate supply for the demand, something $nvda has failed at with its new GPU's. 88.71 94.28(ATH) are...
Notice Semiconductors is leading the charge with the S&P which is positively correlated. Updates on existing longs on SMH that is likely to extend this terminal rally into 220-230 until there is irrefutable evidence to consider the top is in.
Teradyne made a cup & handle, which continues to see strength.
Cup & Handle -- Measured Move
Making a measured move from the floor of the cup, to the resistance which was all time highs, we get a 18 points (12% aprox.) potential move.
Would follow the 5sma (green line) to take profits for 50% of my position, the other 50% if it takes the Resistance 1...