INTC is down more than 10% from its highs set in late February and it has troubling chart formation. INTC is trading below its 50-day and 200-day moving averages and has put in a series of lower highs and lower lows. It may be breaking down again, which could signal that an even lower price is yet to come.
TXN is set to report its earnings after the close next Monday, April 18, and INTC will report before trading begins on Tuesday, April 19. Given the heavy weighting of these two stocks, Tuesday will be the day of reckoning for the semiconductor index.
SSG gapped up this morning and was trading at $53.55, It appears to have broken out of a pennant base today on very high volume. While there may be some near-term resistance at $56.62, SSG could trade up to $65 per share and its 200-day moving average. Place a stop at $47.50 for protection.
There are many concerns about the tech sector's earnings and, in particular, the earning and forecasts for the semiconductor stocks. Technical analysis is a study of the price of the security itself. While there are never any guarantees, the probabilities are favorable for a continued move up for SSG. Results for this recommendation should be very clear by the start of trading next Tuesday.At the time of publication, Slusiewicz and Pacific Financial held a position in SSG.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV