Semiconductor shortBearish rising wedge daily chart has broken down recently and back testing the trend line. Objective short entrance. Negative divergent continue to grow on both RSI and PPO.
Semiconductors
QCOM probably good for at least a short-term swingWith today's weak inflation data, treasury yields are falling, which should be at least short-term bullish for tech. Qualcomm has an additional news catalyst from yesterday's announcement that they authorized a $10 B buyback plan. Qualcomm looks to be exiting oversold territory on the daily RSI. It's just under 15 forward P/E right now, with PEG under 0.5 and dividend yield at 2.2%. We may get some positive analyst coverage over the next week as an upside catalyst. I took a gamble on October 22 calls at the 128 strike.
$NVDA: Scoop There It Is ⤴️Recent political environments regarding Taiwan Semiconductors have highlighted the world's economy's need to wain from the dominance of TSM in the semiconductor manufacturing process, I think a great deal of money is going to come into NVDA both private and government as the US seeks to retain harmony with political rivals. This could greatly benefit Nivida's market cap, the stock has also shown how effectively it can move in massive cycle's so timing a perfect entry could be difficult through this range, but try scaling in and keeping your cost basis as low as you can.
QCOM | In a major support zone | Possible paths to expectToday, we will take a look at QCOM
The price is currently against a major support zone that has been working effectively since October 2020. Let see what we can expect in case of bearish or bullish resolutions.
This analysis is meant for people that develop short-term setups. Why am I saying this? because, at the moment, we can't think about new trends like the one from March 2020 until January 2021. To start thinking about something like that, I want to see a breakout of the current structure, at least. Alright, with all that said, let's start.
BULLISH scenario: If the price effectively bounced on the support zone, a propper invalidation zone for it would be 120 (there, we will start thinking that the level was absolutely broken)The target we will use for this idea is the white descending trend 142.00. There we will be open to rejections.
BEARISH scenario: If the price is able to break the support zone reaching a price of 117.00, we will expect a pullback towards the broken support level. IF that happens, a new low on that pullback would confirm the bearish movements with a target on 100
Thanks for reading!
NFLX about to moveLate in the day price managed to break out of this bullflag
Tomorrow if indices help, NVDA will be a great play !!
AMD flag formationThe US markets have taken a beating over the last few weeks but as sellers start to reside we could see some short term recoveries across the market on some strong players.
Im watching AMD closely with this flag formation, not ruling out a drop back further yet before a bounce but the market structure is set for a continuation
Fib levels from the last bullish rally are being respected so targeting the 1.272 extension of around 130+ over coming months
Broadcom Makes a Higher LowSemiconductor stocks have struggled along with the broader market, but a few have managed to outperform. One of them is Broadcom.
The most interesting feature on AVGO’s chart is the series of higher lows, including Monday’s dip under $475. In contrast, the Nasdaq-100 made a lower low versus August.
Next, the bounce is occurring at the 100-day simple moving average (SMA). That line has provided support since the beginning of June.
Third, stochastic recently dipped to an oversold condition.
Given the forward calendar, with earnings over the next few weeks, traders may view this an interesting moment for a stock showing signs of resuming its longer-term uptrend.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
SOXX 1 year trendSemiconductors/chips continue to be an essential part of everything around the globe.
For a year, we have maintained an upward trend, which is being tested today.
There are clear outperformers in the industry, but it is clearly been working for all of them as a whole.
When we have touched the trend line in the past, we have had a 50 point gain, which has happened through 2 weeks approximately. That gives us a target of around $505.
#TSM mid term AnalysisAs we all know TSM has amazing fundamentals, incredible advantages in their business model and benefitial political terms inside their country, right now their competitors are not close enough to compete with them at full scale. So we are not going to argue about value for this company. Not all day we have infront of us a company that represents value for half of the world chips manufacturer market.
since the July spike the price of #TSM has been trading at a side chanel from 108 usd to 125 usd, in case of a breaking of the 125 resistance at the edge of the accumulation channel, we can expect the price to travel smoothly to a) level target and so on, but in case of breaking the 108 support level we may see bears will take control to the oranges mark supports.
As expected due the economic enviroment right now, lets expect a lot of volatility but thats ok, dont forget you are sitting on a value stock, the stop loss is stretched due volatility.
$AMD and end of September Semiconductors...Here are some zones to ponder for NASDAQ:AMD next week. I have some larger bear and bull scenarios, but this is my little short term sliver of FRIDAY NIGHT FORESHADOWING.
Bullish in the blue, bearish in the red. Beware fakeouts!
Get on board, buddies!!!
-- patrick
$AMD -- a telescopic view for funWake me up in 2022 and we'll take a look at how this played out...
beep boop
patrick
More Upside in Advanced Micro?Advanced Micro Devices rallied hard on strong results in late July. Now almost two months later, the chip stock may be ready for another move.
Notice the slow and lazy pullback since early August, which resolved with a quick test under $100 on Monday. AMD came within $0.28 of its previous peak from January 11. That might be close enough to say old resistance is new support.
Next, the 50-day simple moving average (SMA) has steadily risen and price is now bouncing at it.
Third, stochastics have dipped into oversold territory.
Finally, Bollinger Band Width is back toward the lower end of its typical range. That, combined with the successful retest of old highs, may suggest price action is ready to start expanding again.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
AMD position update. Boxes holding upHi everyone!
Today I am posting an update of my NASDAQ:AMD stock analysis and position.
I first provided my analysis on the stock mid August together with my boxes strategy tutorial. It is linked below.
Now let us see how it holds up.
Demand level of the higher box at 104 has proven to be a decend support.
We broke out of the box to the downside during a market-wide correction on Sep 20.
AND not surprisingly the price bounced off of 99 level, which is a bigger box supply zone turned into a support.
My outlook has not changed .
Still consider NASDAQ:AMD a great long-term investment.
I have added to my long position at 100.
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
BUY $SOXS - NRPicks Jul 05The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the PHLX Semiconductor Sector Index. The fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index measures the performance of domestic companies engaged in the design, distribution, manufacture and sale of semiconductors. The fund is non-diversified.
Bought $NVDA here see chart, looking for this BULL flag to get broken to the upside, nibbled some NOV Calls here
The Big Picture on NVDAToday, we will speak about NVDA
On this chart starting on March 2020, these are the elements we can see:
a) The price was inside an ascending channel (let's call it number 1) and also has broken that structure. Currently, we can see the price supported on that dynamic channel.
b) Another interesting element is that on the 1H chart, we can see a clear Flag Pattern. Where we have defined an activation level for the bullish view
c) The target we will be using for this situation is the Ascending channel 2 (There we expect to observe reactions)
d) The invalidation level either if the price reaches the activation level or not is below the current yellow structure (around 219.00)
That's all we have to share with you on this chart. Thanks for reading!
QCOM in Ascending Triangle $180 PT If you are looking for a 5G play QCOM is a stock you should consider.This fairly valued company trading at just under 20 PE and a 2% dividend is set to grow its business exponentially due to the roll out of 5G. QCOM is well positioned for the roll out of 5G as they manufacture the leading 5G chip called the snapdragon. Also, the infrastructure bill is a looming catalyst as it would allocate over 7b to the roll out of 5G. Given QCOM is trading in an ascending triangle I believe we will break to the upside as 72% of the time in this pattern there is a break to the upside. My price target is $180 for QCOM.
AMAT running out of steamNASDAQ:AMAT has been seriously testing its dynamic support through last weeks earnings report, but has not yet posted a full daily candle beneath. Still, that support has been functionally invalidated by 4 successive candles poking through. In my opinion, a new technical structure is therefore forming. How price action respects the MA200 and/or key supports in the 115-120 range will help define the new channel and pattern.
The largest potential drop (excluding external catalysts) could be to the 118 level, i.e. at the confluence of the MA200 and 19MAY low.
Longer term, NASDAQ:AMAT will continue to post blowout earnings, which should lead to new ATH in late 2021/early 2022. In the meantime, we may see it continuing to trade on the lower side of FMV with a weak upward trend.
TREND CONTINUATION FOR PRYSMIANPrysmian is a Italian leading company with headquarters in Milan, specialising in the production of electrical cable for use in the energy and telecom sectors and for optical fibres.
GOOD BULL TREND
A decidedly healthy and balanced bullish trend and a strong growth in the semiconductor sector suggest a continuation of the bullish trend in the medium / long term.
PRYSMIAN MID/LONG TERM OPPORTUNITY Prysmian is a leading Italian company with headquarters in Milan, specialising in the production of electrical cable for use in the energy and telecom sectors and for optical fibres.
Market that is close to breaking the highs, given the fundamentals and the sector, we can expect a continuation of the medium / long-term uptrend with a target of € 50.
AMDFalling wedge breakout.
AMD had a strong breakout out over the 106 level today. AMD over 109 can run another 3 points.
Time to look at II-VIAcross the megatrends of 5G, cloud computing, autonomous vehicles, and others, the common denominator is the requirement for components made of advanced engineered materials, II-VI looks like it's positioned for strong growth. Now trading at just 15.5 times next year's earnings estimates, below the overall market and many other high-growth tech stocks, this extended months-long malaise in II-VI stock is giving investors a chance to buy a great technology company that should grow handsomely over the next decade at a very reasonable price.
II-VI is down some 35% from all-time highs earlier this year looks oversold on the the daily and has shown solid support at $59 many times since November 2020. Plus there's 14 buys and 3 holds with a average PT of $80.
