Intel, Micron, KLA-Tencor Signal These Top Stocks Signal This Key Tech Sector Is Back: S&P 500 Futures | Stock News & Stock Market Analysis

Futures for the S&P 500 index rose 0.1% above fair value late Monday as the major averages all set record highs during the regular session, fueled by Apple (AAPL). Notably, chip stocks appear on the mend, with Intel (INTC) continuing to surge from its 50-day line, Micron Technology (MU) retaking that support area and KLA-Tencor (KLAC) breaking out to a buy zone.

X Chip stocks have been a key driver of bull markets for decades. Not only are they a major part of the Nasdaq and S&P 500, but they also are integral to so much of the tech sector, from PCs to data centers to smartphones such as the Apple iPhone. (Notably, Apple rose 1.4% to 176.62 in Monday’s stock market trading, just clearing a 176.34 flat-base entry.)

So it was not a good sign that chip stocks sold off in late November, with most chipmakers and nearly all significant chip equipment makers eventually falling below their 50-day moving averages. Chip stocks have been rallying for more than a week, but Monday was an important day.

The Philadelphia Semiconductor Index, or Philly Sox, regained its 50-day moving average for the first time since Dec. 1.

Micron Technology, which reports earnings late Tuesday, also moved above that level, jumping 3.1% to 43.71

Intel was the top-performing Dow stock for a second straight session, surging 3.8% to 46.26 after blasting 3% on Friday, rebounding from its 50-day. Volume was very strong on both days. Intel is now closing in on a 47.40 flat-base entry.

KLA-Tencor cleared its 110.11 buy point on Monday, vaulting 5.3% to 111.22. KeyBanc raised the chip equipment maker to overweight with a 134 price target. KLA-Tencor retook its 50-day line on Friday.

As for other notable chip plays, Nvidia (NVDA) popped 3.3% to 197.90, while chip gear leader ASML (ASML) advanced 1.5% to 176.34. Both are just below their 50-day moving averages.


The Big Picture: Dow Nears 25,000 On These 2 Tech Titans

Chip Stocks: Is This Contamination Play Heading Down Or Ready To Rebound?

What Do Oracle, Align Technology, Control4, Arista Share? A Flat Base Breakout

Stocks Near A Buy Zone Ahead Of Earnings

How To Invest In The Stock Market: Start With A Simple Routine

Source link

Originally posted 2017-12-19 05:46:28.


No comments.

Leave a Reply

error: Content is protected !!