Sunday, July 23, 2006

Sectors due for a Technical Bounce - GHA, NWX and SOX

From the weekly charts below you will see that hardware, networking and semis are all trading at multi-year pivot point levels and the RSIs are all around 30. Don't be surprised if we get a technical bounce shortly.



2 comments:

monkeydust said...

Keep an eye on ATYT, AMD, and NVDA this week. Once again, we're seeing the "AMD acquiring ATYT" rumors popping up. They are still coming from anonymous sources so it is hard to tell if there is any truth in this. But, we've seen the same rumors pop up several times before and ATYT stock has popped and then fell back down in subsequent days as no credible information was to be found.

If a deal is announced, look for short term drops in AMD and NVDA and a pop for ATYT.

Jamie said...

Thanks monkeydust,

I'll keep my eyes and ears open for that play.