GENERAL COMMENTS Today, the Federal Reserve maintained its interest rates unchanged, highlighting the ongoing challenges in curbing inflation. Initially, this announcement propelled the markets upwards, but a sharp downturn occurred in the final hour, leading to a decline as the day concluded. The erratic market behavior demonstrated today makes it increasingly...
MARKET OVERVIEW The stocks had a good turnaround after a strong report from $NASDAQ:KLAC. NASDAQ:MSFT Also posted strong earnings! Could the famous saying "Sell in May and go away" turn to "Buy in May and Stay"? Lets review some charts. NASDAQ:QQQ The Qs snapped back after strong earnings. Now it looks like we are heading for the 50D...
Breaking a key level to the upside in a clean regression trend combined with positive analyst expectations makes me believe this is a buy for maybe next few months.
Analyzing the options chain and the chart patterns of SMTC Semtech Corporation prior to the earnings report this week, I would consider purchasing the 26usd strike price Calls with an expiration date of 2023-9-15, for a premium of approximately $0.73. If these options prove to be profitable prior to the earnings release, I would sell at least half of...
NVIDIA's price action last week was a historic event in the markets, and at a very strange time. Whenever you see such an outlier, it's time to perk up and really give a deep think to what's going on in the world at large. For me, I had long since anticipated NVIDIA would print a new ATH, but I did not believe it would do it until the markets at large had...
As shown in the chart, we broke a bear flag. Technicals RSI is weak but growing. OBV hasn't been this high since early 2000's. If we can break the 200SMA line with strong technical indicators and volume. I see SMTC as a possible cheap high growing company. Heavy support/resistance lines: Resistance: $55 Support: $37.5