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Semis

QQQ -Nasdaq Bull Flag forming?After a volatile week, $QQQ has been hit by some short-term selling pressure. This in turn, has made its technical patterns look quite bearish at the moment. However contrary to this, it may appear that a "Bullish Flag" pattern may be forming. If the price can bounce of the bottom of the channel pattern ("Flag") at $186.31, move higher and breach the top of the Flag at $192.89, we could see prices move higher. If it fails to do so however, we could see more selling. Watch this space over the next few trading sessions.
NASDAQ:QQQLong
by EconomicsGlobal
Semiconductors - almost to the 5th wave down. LOAD UP on SOXSSemis swinging nicely in this range bound pitchfork. Volatility increase near the outer bounds, and we are almost there. Clear 5 wave count to conclude at the long term bullish trend line. This is my short term trade to the downside using SOXS 3x bear, and will reevaluate my next move when this target is hit. There's still a long term bull target on most indexes (including Semis) that has not been hit. I'm keeping that in the back of my mind, but for now staying bearish on this move. Ignore the time based fib if you want. I rarely use it, but it helps fit my narrative for now.
NASDAQ:SOXShort
by warrenbudget
AMAT Gap Down on Guidance - Right Down to Strong Support. . .Applied Materials fell hard on guidance today. Did AMAT stock get put on clearance sale with the drop? Whether or not the stock deserved to fall almost double-digit percentages on the day is subject to debate, but the important thing is it fell to a very strong support level - and the tech story continues to look good. Thank you for for lending me your attention! AMAT provides equipment and support for chipmakers. There are several reasons why chipmakers are going to see robust business in the coming months and years - AI, automation, blockchain, I.o.T, data, etc. - meaning Applied Materials' customer base is ready and willing to do robust business with the company. As the automation and data gold rush continues, AMAT's customers will be buying more and more equipment and services. There's also the 5G wildcard - while slow adoption of 5G technology doesn't necessarily hurt AMAT's business, a 5G tech connectivity boom would be a great boon to AMAT's prospects. The technicals are as good a story as the fundamentals. Applied Materials fell from the low\mid $50's to close around $49.50 (down a little more than 8%) on 5/18. Looking back on the chart, we can see that the $48 area provides a strong support floor. AMAT approached that support zone intraday as selling momentum pushed price lower during the early trading hours - and selling pressure as well as lackadaisical summer trading may see price through to lower levels in the coming week or two - but Applied Mat'ls miss on expected guidance doesn't change the overall situation of the company or the tech sector. Gaps like these tend to fill. Look for price to trend higher as tech remains strong and the chip manufacturers continue to buy products and services from AMAT, and as traders take advantage of the early Memorial Day sale price of Applied Materials' stock. Please like, follow, and share, and maybe we can have fun and do great things together. Thanks again! See it on the site: holsturr.com/category/markets/charts/ ** For speculative and research purposes only - good luck! **
NASDAQ:AMATLong
by holsturr