Note that all four of the semiconductor short-sale set-ups we've seen trigger in recent days and which we've reported on previously are moving lower. As they approach prior lows or key moving averages watch for cover points to emerge. AMAT has burst through the 50-dma and is now approacyhing two key lows in the pattern (green dotted lines). KLAC is at the 50-day line, while LRCX has broken below the 50-day line and the prior December low. QCOM is hovering at the 50-dma and the prior December low. These are key levels to watch for U&Rs or MAU&Rs which would trigger final cover/profit-taking signals. In most cases, I am anticipating the moves lower as they approach these levels as at least partial cover points.
Short-Sale Set Up - Recent Semiconductor SS Set-ups - Some Guidance
|Published:||10 Jan 2022 11:12 ET|
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