Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Semiconductor Stocks Are Tumbling Lower, KLAC Is Getting Clocked

Published 09/07/2018, 12:16 AM
Updated 07/09/2023, 06:31 AM

This morning, the leading semiconductor equipment stocks are tumbling lower. Leading stocks such as KLA-Tencor Corp (NASDAQ:KLAC), Applied Materials Inc (NASDAQ:NASDAQ:AMAT) and Lam Research Corp (NASDAQ:NASDAQ:LRCX) are all trading down by 3.0 percent or more.

The big loser in the industry group is KLA-Tencor Corp (NASDAQ:KLAC). The stock is falling lower by 8.65 percent to $108.56 a share. The stock has very solid daily chart support around the $107.30 level, this area was successfully tested earlier today. Should KLAC stock fail to hold this support area on a daily chart closing basis then it would signal another decline in the near term for the shares. The next key support area for KLAC stock would be around the $103.00 level. This support area was where the stock was defended in late July and will likely be defended again if retested. I will be watching this level closely for a long trade in the next few weeks.

KLAC Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.