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Market Insights

Bringing you the trading news around the world.

Technical Analysis: Don’t Forget About Chip Stocks

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The Nasdaq is trying to stabilize, which could draw buyers back to semiconductors.

Chip stocks like NXP Semiconductors (NXPI), Broadcom (AVGO) and Lam Research (LRCX) were some of the biggest gainers in the Nasdaq-100 last week. That helped push NDX ahead of the S&P 500 for the first time in five weeks. The relative strength also came amid two positive weeks for the Philadelphia Semiconductor Index.

For more, please click here to view the related idea and chart analysis on TradingView.

Philadelphia Semiconductor Index (SOX), daily chart, with key patterns, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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