Here’s Why You Should Observe The Market Sentiment
At last, Semiconductor
Sector Index ($SOX.X) took out the 200-day simple moving average. It
was yesterday. As you know, the 200-day MA is watched by many market
participants because it determines the long-term trend of stocks and indices.
Anyway, it was an encouraging sign for semiconductor stocks.
10:07:13
(From TradersWire)
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Texas Instruments (TXN)
is recovering from earlier losses, and it is approaching yesterday’s high. The
stock already broke above a resistance line two days ago on heavy volume. Long
TXN if it takes out 25.50. Our target is near 28. Place a stop slightly below
25.00. TXN is trading at 25.20, down 0.16.
TXN’s recovery was short lived. It could not
break above 25.50. Earlier this morning, an influential analyst made negative
comments on semiconductor equipment stocks and downgraded Applied materials
to Underperform. Needless to say, it affected the entire semiconductor sector
and dragged TXN down.
Besides the technical conditions of stocks, don’t forget to observe the market
sentiment
Have a good afternoon session!
If you have questions, feel free to mail them to me.
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