AI
| Followers | 71 |
| Posts | 12229 |
| Boards Moderated | 1 |
| Alias Born | 04/01/2000 |
Monday, August 04, 2003 10:42:45 PM
SOX Components - ALTR, AMAT, AMD, BRCM, INTC, KLAC - 6 Month Daily Charts:
The Philly Semiconductor Index ($SOX) saw mild gains on Monday after the Semiconductor Industry Association [SIA] released world-wide chip sales figures for June. On a year over year basis, chip sales were up 10.4 percent. However, month over month growth was just 0.3 percent. Nonetheless, SIA believes a broad-based recovery is emerging in the sector. The SOX is just 17 points from a new 52-week high, but with optimism high, it could be difficult for the sector to live up to expectations.
On a technical basis, the SOX has formed an ascending triangle this past month. This formation is developed when the highs remain constant, with the lows moving higher. This consolidation pattern normally precedes a large breakout move for the stock or index. This is something to keep an eye on.
http://www.optionetics.com/articles/article_full.asp?idNo=8829
The Philly Semiconductor Index ($SOX) saw mild gains on Monday after the Semiconductor Industry Association [SIA] released world-wide chip sales figures for June. On a year over year basis, chip sales were up 10.4 percent. However, month over month growth was just 0.3 percent. Nonetheless, SIA believes a broad-based recovery is emerging in the sector. The SOX is just 17 points from a new 52-week high, but with optimism high, it could be difficult for the sector to live up to expectations.
On a technical basis, the SOX has formed an ascending triangle this past month. This formation is developed when the highs remain constant, with the lows moving higher. This consolidation pattern normally precedes a large breakout move for the stock or index. This is something to keep an eye on.
http://www.optionetics.com/articles/article_full.asp?idNo=8829
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
