The SOX was one of the worst performing tech sectors on the Nasdaq today, giving back most of yesterday's gains. After the close MRVL beat on revenues, earnings and margins and guided higher for Q1 and full year. It also announced a 2 for 1 split. It added about $4.00 from its closing price in AH trade. BRCM also added about one point in sympathy with MRVL. This should give this oversold sector a much needed boost to end the week.
I will be looking closely to see how MRVL opens tomorrow. It will be very important that it not give back the AH gains in tomorrow's trading session like we saw last week with NVDA. My favourites for tomorrow, if the SOX is bullish are BRCM, SNDK, TRID and MXIM. These four names did not give back all of yesterday's gains today, and they are all trading higher in AH except TRID. BRCM appears to be the strongest of the three, but SNDK is deeply oversold, MXIM is sitting on support and TRID is trading into strength. Below is a 15 chart of SNDK. The blue lines are pivot points.
No comments:
Post a Comment