Is SMCI a buy? SMCI has lagged NVDA and many other semis.
Were now approaching a critical area...its make or break!
positive Daily divergence provides some hopes that were close to a near term bounce however after today semiconductor selloff the whole complex was shattered.
The fact that SMCI remained green while NVDA was down 10% should be a small win in itself...
The question is can it hold and build on this?
I do think its better positioned for a long than most semis.
No confirmed technical breakdown has occurred yet
SMH
AVGO may confirm the daily 10 SMA this week.NASDAQ:AVGO is on watch to confirm the daily 10 SMA ahead of its earnings this week, which are on Thursday at 4:15 PM EDT. Many names in the NASDAQ:NDX are heading into this week just below the daily 10 SMA, including NASDAQ:META NASDAQ:TSLA and the semiconductor ETF NASDAQ:SMH
If these names are able to build above Friday's high, they have space to trade up to the next daily supply.
SMH shows signs of bullish turn aroundSMH experiences a false breakout and tries to sustain it for a few periods with increased volume
SMH experiences first false breakout above
Tries to hold higher levels outside resistance
Increased volume is accompanied with this breakout
This gives a signal that bear drawdown has weakness in it and bulls maybe taking over soon.
SMH throws mixed signals compared to QQQSMH indicators, EMA crossover, and stock throws mixed signals
EMA remains below its SMA line
RSI breaks slightly above its SMA
stock price remains firmly inside lower resistance line
SMH is rather prone to false breakouts. So the RSI breakout above could be a fake out for sure. Prefer to wait for extra confirmation of new direction with SMH before making trades on it.
SMH is overall giving more bearish direction than bullish.
SMCI broke the daily consolidation.NASDAQ:SMCI broke the tight daily consolidation to the downside today, confirming a short entry at $600 after losing daily demand. I will keep it on watch tomorrow with any weakness in NASDAQ:SMH and NASDAQ:QQQ for a potential continuation play down to the next daily demand.
SMH closes lower on Monday tradingSMH starts showing direction as to where it is going... down.
3 separate points paint a clear downward resistance trend line
rejected hammer candle gave way for more selling
RSI still continues to trend down on multiple timeframes
SMH is starting to show signs of downward trend forming
Putting on a small put position to close in mid October. May expand on position if trend continues.
SMH shows signs of weakness for first time SMH rally is showing weakness in multiple places for first time.
EMA crosses below SMA for first time since rally started
RSI shows signs of price divergence by trending down while price makes higher highs.
This is more cautionary at this point and keep in mind. I wouldn't add to any bullish positions but instead tighten stop losses and seek to start taking some profits.
Short NVDA for a little +33%...This trade is purely psychological revenge...
Long AAPL and TSLA, short NVDA haha
NVIDIA's (NVDA) Stock Expected to Plummet to $82 Post Q2 Earnings
1. Overestimated AI Chip Demand
2. Data Center Growth Slowing Down
3. Vulnerabilities in the Gaming Sector
5. Product Innovation Fatigue
6. Supply Chain Vulnerabilities
SMH rallies to new highs with room to goSMH rallied to new highs today and into higher trading area which originally appeared to be very overbought
1 hour interval shows both 10 and 20 RSI levels in overbought territory
2 hour interval shows 20 RSI having more room to grow.
initially exited riskiest positions figuring on this new high being way outside the bounds of normal
This is now looking to have some more room left in it.
expect a small pullback or pullback in time over the next day or two.
SMH held its ground above key support levelToday was an important day for semi conductors. In order to solidify a bullish pivot it needed to remain above a key support level.
SMH held above key support
lack luster moves across the market indicated indecision and caution amongst traders about the future being bullish or bearish
This could mark the sign of a turn around to the upside longer term
considering the recent rally and today's modest moves, this could be the distribution phase of the rally cycle which would mark a small pullback in the coming days
Intel Corporation (INTC) Stock: A Investment Opportunity ?Intel Corporation's recent earnings report has raised some concerns, but there are several reasons to remain optimistic about INTC stock.
Despite a challenging Q2, Intel is strategically shifting production to its high-volume plant in Ireland, positioning itself for long-term gains.
The company's focus on cutting-edge chip manufacturing and AI advancements highlights its commitment to innovation.
Moreover, Intel's diverse portfolio, including the promising Gaudi AI products, provides a solid foundation for future growth.
With strategic cost-cutting measures and a strong financial position, Intel is poised to rebound and deliver value to its investors.
Opening (IRA): SMH Sept 20th 199 Covered Call... for a 192.24 debit.
Comments: (High IVR/IV at 108.2/47.6). Buying stock and selling -75 calls against to emulate the delta metrics of a 25 delta short put, but with built-in short call defense.
Will generally look to take profit at 50% max; roll out the short call for duration and credit on test.
SMH tests major resistance lineSMH approaches major resistance line after flash crash a few days ago
SMH rallies to major resistance line
20 RSI remains below 50 which is a bearish sign that the recent rally is running out
shorter timeframes show a dramatic drop in volume during the rally which is another bearish indicator
August and September are historically bad months for the stock market
I am expecting SMH to test the resistance line, possibly breakthrough then pull back before continues selling.
Not putting on any trades, waiting for confirmation.
SMH breaks though support on increasing volumeSMH opened up selling off and continued to sell off through multiple periods.
Broke through support
Continued selling through multiple periods
Increasing volume while selling
Broke current upward trend its been on since May
Expect to see more selling to come
$INTC has its biggest run in a long timeNASDAQ:INTC has hit the 1st level.
We are being strategic and locking in some gains. We are over 10% profit mark in a few days & Intel is above the gap fill area, which was the 1st tranche of selling.
Still have a good sized position and wrote covered calls on 1/4 of the position.
NASDAQ:SMH NASDAQ:SOX
$INTC trade looking goodBuilt a larger than normal position on #Intel.
NASDAQ:INTC
The sell areas are highlighted by the yellow circles.
1st tranche around 34.5.
2nd tranche around 43.5.
3rd tranche around 49.
There will be a trailer left for a longer term hold/ This is with the hope that there is a turnaround in the company.
The last gap fill is in the low 60's.
NASDAQ:SMH