This past week, Exodus Market Intelligence flashed an Oversold signal on the $SMH VanEck Vectors Semiconductor ETF. This coincided nicely with a number of setups we began spotting in our trading room in individual names that make up the group.
When you see a group of related stocks all start to exhibit the same “look” as in pattern and speed, you can almost certainly be sure a move is setting up. Let’s take a look at a stocks to keep on our radar into the next couple of weeks:
1. Applied Materials $AMAT
Reversed sharply off an OS signal based on Optex Bands. Look for a move back up to the most recent highs of $47.50.
2. Micron $MU Look Familiar?
3. Marvell $MRVL (High Potential)
4. Cavium Inc $CAVM
5. Kia-Tencor $KLAC
These 5 are some of my favorites from the group, all shaping up similarly. Watch this group into next week and beyond to continue the longer term up trend.
OC