Weakness in the Semiconductor Group and the US Stocks Watchlist – 5 April 2022
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The Semiconductor group was hit again today with many stocks in the group dropping back below their 50 day MAs again. So the group is in danger of falling into Stage 4 if the weakness persists, as the weekly chart failed at the now declining 30 week MA last week and the relative strength versus the S&P 500 is making new lows ahead of the price action.
However, currently it is still in Stage 3, and it has multiple areas of support below and so if the market firms up, then it could still hold and form a higher low. But the last few days action have done some technical damage in many in the group.
US Stocks Watchlist – 5 April 2022
There were 23 stocks for the US stocks watchlist today.
PANW, LHX, LNTH, MSFT + 19 more...
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.