Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Semiconductor Red Hot Performance Tests 20-Year Breakout Level

By Chris KimbleStock MarketsApr 13, 2021 11:19AM ET
www.investing.com/analysis/semiconductor-red-hot-performance-tests-20year-breakout-level-200572795
Semiconductor Red Hot Performance Tests 20-Year Breakout Level
By Chris Kimble   |  Apr 13, 2021 11:19AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

SOX Monthly Chart.
SOX Monthly Chart.

Will the “red hot” semiconductor index cool off or get even hotter due to the shortage of chips?

This chart looks at the Philadelphia Semiconductor Index on a monthly basis over the past quarter century. No doubt the trend is up as it has created a series of higher lows and higher highs since 2009.

Fibonacci extension levels were applied to the 1996 lows and the 2000 highs. Currently, the index is testing the 261% extension level, while at the top of the rising channel as momentum is at the highest level since the 2000 highs.

The rare chip shortage could impact the production of many products. Will this rare long-term Fibonacci extension level impact the price of this index?

With the trend being up, a breakout by this key tech index would send a bullish message to the NASDAQ Composite as well as the broad markets.

Keep a close eye on this index over the next six weeks, as it will send an important message to many markets.

Semiconductor Red Hot Performance Tests 20-Year Breakout Level
 

Related Articles

Declan Fallon
Weak Bounce For NASDAQ; S&P Breaks Out By Declan Fallon - May 10, 2021

I wanted to see more from the NASDAQ support test on Friday, but the doji came in with a neutral 'spinning top'—not the ideal candlestick you want to see off a successful support...

Semiconductor Red Hot Performance Tests 20-Year Breakout Level

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Andre Goldman
Andre Goldman Apr 13, 2021 4:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Chris i like to read your articles: however, that is not one valid trendline, hence, this article you've posted is just a waste of time. Try another one. Cheers.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email