Thursday, September 06, 2018 12:09:31 PM
This morning, the leading semiconductor equipment stocks are tumbling lower. Leading stocks such as KLA-Tencor Corp (NASDAQ:KLAC), Applied Materials Inc (NASDAQ:AMAT) and Lam Research Corp (NASDAQ:LRCX) are all trading down by 3.0 percent or more.
The big loser in the industry group is KLA-Tencor Corp (NASDAQ:KLAC). The stock is falling lower by 8.65 percent to $108.56 a share. The stock has very solid daily chart support around the $107.30 level, this area was successfully tested earlier today. Should KLAC stock fail to hold this support area on a daily chart closing basis then it would signal another decline in the near term for the shares. The next key support area for KLAC stock would be around the $103.00 level. This support area was where the stock was defended in late July and will likely be defended again if retested. I will be watching this level closely for a long trade in the next few weeks.
Nicholas Santiago
InTheMoneyStocks
Recent KLAC News
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
