Mid Cap Hyper Growth GemSemiconductors are a highly cyclical investment. Small to mid cap names in this industry are particularly vulnerable to large drops, as we can see with ONTO. This presents an excellent investment opportunity for those brave investors willing to take a small position and dollar cost average down as the price continues to fall.
ONTO is at the top of my list in regards to this profile, a fast growing semiconductor equipment supplier that has experienced solid growth with their advanced packaging offering. They specialise in metrology solutions, competing with the likes of KLA corp.
From a TA perspective, we are sitting at the 200 week moving average, a strong monthly support level and a golden pocket fib retracement level. This doesn't guarantee that support will hold, but it's a good place for me to take an initial position in this high growth company operating in the AI related industry.
Not financial advice, do what's best for you.
