The Semiconductors Group started the week with a Stage 4 breakdown attempt below the recent support with the relative strength line versus the S&P 500 also making a lower low below the flattening zero line (52 week RS MA).
The Stage 4 breakdown is not confirmed yet, as it could still reverse during the week and turn into a Wyckoff Spring / Undercut and Rally. However, if it closes the week strongly below the breakdown level and near to the bottom of the price spread then the Stage 4 breakdown would be confirmed. So it is a pivotal week for the Semiconductor stocks.
US Stocks Watchlist - 7 March 2022
There were 20 stocks for the US stocks watchlist today. Here's a small sample from the list:
EGLE, GDXJ, TS, USER + 16 more...
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.