Semiconductor 📱🧠🧑🏻💻Stocks - TA Review
Semiconductor stocks rallied following the strong earnings and forecasts by the big players like NVIDIA, AMD, TSMC, etc... Today, let's look into a few famous semiconductor stocks through technical analysis.
NVIDIA
Nvidia passed Apple in market cap on Wednesday as investors continue betting on the chipmaker behind the artificial intelligence boom. Nvidia is now the second-most valuable public company, behind Microsoft. Nvidia also hit a $3 trillion market cap milestone on Wednesday after shares rose over 5%.
Nvidia daily chart
NVIDIA continued to rally following its strong earnings result and also its stock split stimulus. The momentum remains very strong despite a crazy rally since mid May. I believe NVIDIA will be extremely volatile next week following its 1-10 stock split. But usually during the first day of the split, most of the stock will rally again before having a significant retracement. I believe similar thing will repeat on NVIDIA, therefore a short term bullish vote for $NVIDIA Corp(NVDA)$
AMD
Bullish sentiment has cooled towards Advanced Micro Devices in recent times. While the chip giant is seen as a beneficiary of the AI boom, its growth trajectory has been disappointing for some investors who might have been expecting the company to be making more of the AI opportunity at play.
AMD daily chart
For AMD, its share price is much weaker as compared to NVIDIA. The stock consolidated for the past 3 weeks. The near term resistance for AMD to challenge will be at around 174.6 USD. We won't know how long the consolidation will take place, but do monitor closely, once AMD breaks out from the neckline support at 174.6 USD, it will definitely soar. For such, I remain bullish for $Advanced Micro Devices(AMD)$
Intel
Speaking at the Computex trade show in Taiwan, Intel Chief Executive Pat Gelsinger revealed pricing for the Intel Gaudi 2 and Gaudi 3 AI accelerators. He also launched the company's latest data center processor, Intel Xeon 6, and introduced a new AI PC processor code-named Lunar Lake.
A highlight of Gelsinger's presentation was the aggressive pricing strategy for Intel's upcoming Gaudi artificial intelligence accelerators.
Intel daily chart
A mid to long term bearish sign for Intel without any doubt. However, if you look at short term, there.might have some rebound chance for Intel. The share price seems to form a short term bottom at around 30.57 USD and is able to hold well at this position. I believe the worst is over for Intel and at such price, the risk of having long is much lower than shorting the company. For such, even though the technical chart is not favourable for $Intel(INTC)$
TSM
An affiliate of Taiwan chip titan TSMC has joined Dutch chip maker NXP to announce plans to build a new 7.8 billion USD factory in Singapore to make processors for the auto and mobile end markets.
TSM daily chart
Quite a healthy chart for TSM. In general, the overall mid term trend is still under an obvious uptrend. The recent pullback was testing the support at around 146.54 USD after it broke out in early May. As per my prediction last week, TSM rebounded and directly broke new high this week, what a strong momentum! Backed by the strong market demand, there's no reason that TSM will stop here right? Higher will only go higher, bullish for $Taiwan Semiconductor Manufacturing(TSM)$
SOXL
SOXL, consistently among the most actively-traded ETFs, seeks three times daily exposure from an index of 30 of the largest U.S.-listed semiconductor companies, including manufacturers and providers of equipment and services focused on the industry. The fund's index uses market cap-weighting, with the top five securities capped at 8% and the remaining securities at 4%.
SOXL daily chart
Interesting analysis for SOXL chart last week, regarding the hammer signal! Hammer candlesticks indicate a potential price reversal to the upside. Amazingly, SOXL rebounded strongly throughout last week, after showing the hammer signal.I continue to stay bullish for $Semiconductor Bull 3X Shares(SOXL)$
Do you like and invest in AI or semiconductor related stocks? Come and join the discussion with us.
@TigerStars @MillionaireTiger @CaptainTiger @Tiger_comments @TigerGPT
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Sorry! I can't answer this question.