technologystocks

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One of the main features of the market lately has been a rotation to non-megacap technology names. Zoom Video Communications, Twilio, Roku, Snap, Pinterest, Zendesk, Etsy, Match, Digital Turbine, Appian, Fiverr and others (including solars) have all shot to new highs lately. Meanwhile the biggest names like Amazon.com and Apple have drifted since the...

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Marvell Technologies has been one of the better-performing chip stocks this year. It’s up 52 percent in 2020, while the Philadelphia Semiconductor Index has gained just 28 percent. MRVL broke out in May, well before most others. It spent the next four months in a long consolidation pattern, grinding higher but not really breaking out. That is, until ripping...

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One common pattern this year has been sporadic rallies in the Russell 2000 , followed by longer periods of malaise. We saw it in June, early August and again in the last 1-2 weeks. Each time, it’s been followed by a shift back to Big Tech, Growth and the Nasdaq-100. The same process seems to be happening right now. This chart shows our Smart Relative Strength ...

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One of the more interesting dynamics since the Nasdaq-100 swooned last month has been the relative strength of Chinese technology stocks like Alibaba. This hourly chart compares the Golden Dragon China Index with the Nasdaq-100 . First you have the simple outperformance since the low. Second, notice that HXC made a higher low in late September, while NDX...

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Zoom Video Communications has clearly benefited from the coronavirus pandemic, but it’s not alone. The crisis has also lifted several other software and cloud-based service companies. Many of them, including ZM, pulled back last week as sentiment swung toward the reopening trade. This week they could be worth a look as new daily infections shoot over 80,000 for...

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This week has been all about Apple. It jumped on Monday amid iPhone 12 optimism, hit a wall and has been consolidating since. This brings up an important level on multiple time frames. First, on the weekly chart, AAPL’s high the week ended September 11 was $120.50. Monday’s rally broke above it and today’s pullback revisited it. This level could be very...

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PayPal has been a major beneficiary of coronavirus and the boom in e-commerce. It’s moved sideways since the end of July but now the chart may be attempting a breakout. PYPL formed a bullish flag since the start of September, with the trendline running down through the early October levels. Yesterday it closed above that trendline. Prices also consolidated at...

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The Philadelphia Semiconductor Index formed an interesting pattern this month as the market pulled back. It initially dove toward 2100, and then managed to hold that level even as the Nasdaq-100 and S&P 500 proceeded to make lower lows. Not surprisingly, that relative strength led to more bullishness this week as SOX jumped above its 50-day simple moving...

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Market correlations are always interesting because they can reveal how investors are thinking. One correlation recently been similar movement between semiconductors and industrials. (This chart shows the 10-day correlation between the Philadelphia Semiconductor Index and the SPDR Industrial ETF .) This isn’t a huge surprise because both are relatively cyclical....

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Roku was one of the market’s most explosive growth stocks in 2018 and 2019. It’s chopped around with the rest of the Nasdaq during the time of the pandemic, however recent price action shows some interesting relative strength. First, ROKU made a new 52-week high on Monday, even as the Nasdaq-100 hit a two-month low. Next, ROKU bounced at its 50-day simple...

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Chinese technology stocks have held their ground better than their U.S. counterparts. The Nasdaq Golden Dragon China Index is 8.5 percent below its 52-week high, while the SPDR Technology Fund is down 12 percent. Alibaba, a key name in the group, has some interesting patterns on its chart. First is the bullish-triangle breakout in August, which it’s now...

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Amazon.com might be the poster child of e-commerce taking over the U.S. economy. But it’s by no means the only beneficiary of online shopping in the last six months. Wayfair has rallied even more, surging over 1,300 percent from its March low to August high. Now it’s pulled back, with some interesting signals. First, we have the deeply oversold condition on...