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Letting the Chips (Stocks) Fall Where They May: A Mixed Bag

Applied Materials (AMAT) ($21.56), up 7.3% since March 24. The stock set a multiyear intraday high at $21.92 on Wednesday, well above its 200-day simple moving average at $17.99. The weekly chart is positive with its five-week modified moving average at $20.01, Monthly and quarterly value levels are $19.91 and $18.33, respectively, with no risky level which makes the stock a pure momentum play.

Broadcom (BRCM) ($37.07), up 17% since March 24. The stock gapped higher this week, trading as high as $37.14 on Wednesday. The weekly chart is positive with its five-week MMA at $31.81 and its 200-week SMA at $34.00. Monthly and annual value levels are $33.65 and $32.12, respectively, with a semiannual pivot at $35.10 and semiannual risky level at $42.19.

Intel (INTC - Get Report) ($27.60), up 9.9% since March 24. The stock set a 52-week intraday high at 27.76 on Wednesday. The weekly chart is positive with its five-week MMA at $26.56 and its 200-week SMA at $23.26. Semiannual and annual value levels are $26.33 and $20.26, respectively, a weekly pivot at $26.94, and monthly and semiannual risky levels at $28.35 and $28.95, respectively.

Marvell Tech (MRVL) ($16.02), up 0.8% since March 24. The stock set a 52-week intraday high at $16.65 on April 1. The weekly chart is positive with its five-week MMA at $15.68 and the 200-week SMA at $13.75. Weekly and annual value levels are $15.19 and $13.97, respectively, with semiannual and monthly risky levels at $16.87 and $18.18.

Nvidia  (NVDA) ($18.88), up 2.3% since March 24. The stock set a multiyear intraday high at $19.46 on April 24. The weekly chart is positive with its five-week MMA at $18.46 and the 200-week SMA at $14.93. Semiannual and quarterly value levels are $17.65 and $14.31, respectively with a monthly pivot at $18.95.

Texas Instruments (TXN) ($46.85), up 0.6% since March 24. The stock set a multiyear intraday high at $49.77 on April 1. The weekly chart shifts to negative on a close this week below its five-week MMA at $46.11 with its 200-week SMA at $34.05. Weekly and semiannual value levels are $45.65 and $41.39, respectively, with a monthly risky level at $49.25.

Your investment policy among these stocks depends on whether or not you are a buyer on weakness or a seller of strength. We advocate using a good-'til-cancelled limit order to buy weakness to a value level or to sell strength to a risky level.

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