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 !!
Semiconductors
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.
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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.
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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!
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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.
$ON very tradable 9pretty chart, bullish trade for next week. Semis will likely follow $NVDA if it breaks ATH
MU looks good for a long positionSmall correction after earnings report
Now sitting on the strong level, looks ready to go higher
Good fundamentals
strong industry
Can go to the next resistance at 95
NVDA In Danger??Today I contemplated closing 75% of my long in NVDA as it is well in profit and I have much leeway right now to walk away and let a small amount ride. The reason for this is because NVDA has broken both a key upward sloping trendline as well as the .786 Fibonacci level on the daily and 4 hour time frames.
This does not have to be the end of the road for NVDA but it is not a bullish sign either to say the least.
It does appear, however, that Nvidia could be in for some short to midterm consolidation before regaining the needed momentum to break back above all time highs.
A few things that are good from a bulllish perspective is that a week ago we broke out of downward sloping resistance and managed to break and close fully above the .786 Fibonacci level not to mention we set higher highs in the process of doing that.
For this reason I am remaining in my long.. but there is a further issue. The issue is that we are in the process of putting in a macro lower high and this could be very bearish for the asset if it does not find bids this week and at the very least break back above $203. If not, a retest of the $198 price level could be very likely.
This entire range from $198 all the way down to $194 could be a great re-entry area for a long as there is much bullish confluence in this region which should provide for ample support.
It is this reason that I am remaining in my long. I will not be looking to add to my position should the price come down to the aforementioned price levels.. I will, however, remain patient by waiting and seeing if any bids come in at the green zone I have showing on the chart. If this green zone does not hold, I will be 75% out of the trade should we break and close a daily candle below the 0.5 fib level at $194.
Tomorrow's open and close on the daily chart could be telling. Keep in mind though, that the week has just started and NVDA has plenty of time to make up for the major, yet small ground it has given up to start the trading week.
