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Semiconductor and Software Stocks Are Strong

by | Mar 12, 2018 | Semiconductors, software, technology

Semiconductor Index and Software

Software and semiconductor stocks are strong in the pre-market session, with Microsoft poised to press higher. In addition, speculation over whether INTC is considering a bid for Broadcom (AVGO) has both higher in early trading.

Cypress Semiconductor (CY), Marvell Technology (MRVL), Skyworks (SWKS), ASML Holding (ASML, Lam Research and Teradyne (TER) are active this morning as well, indicating we could see higher levels.

Looking back, we can see the technology sector, semiconductor and software industry groups have been active over the past two weeks. This institutional activity helped propel the Nasdaq composite to a new high on Friday.
XLK Cycle Software and Semiconductors
Chips and software are also a significant part of the S&P 500 index, which retook its 50-day moving average on Thursday. Friday follow-through gives us reason to believe many of these stocks will continue to move higher this week.

Software Stocks

Microsoft (MSFT) is on the watchlist this week. Everything about this chart suggests we should start trending if this breakout resumes today. Look for a little weakness for entry. Perhaps a bull flag during the Opening Range or an ABCD pattern.
MSFT 03-12-2018

Watchlist Ranked by Performance

I’ve taken the liberty of ranking these stocks by focusing on Friday performance. Industrials are showing institutional footprints as well.

Watchlist performance

We also like the restaurant stocks. With Friday job numbers beating expectations, we assume the workforce will be spending some of that cash on dining out. Watch the consumer discretionary sector as well.

We’ll be LIVE at 9:20 AM to discuss the markets.

Good luck and Happy Trading,

Vinny

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Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

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The Closing Print live trading and financial blog during market hours.

Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.

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