Chipmakers Shine

TAGS: How to analyze shares and stocks

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News in Brief

Bloomberg:

  • Nasdaq 100 hits record high in tech-fueled rebound.
  • China’s sudden stock rally points to EFT buying by state funds.
  • Stocks and futures rebound as Chipmakers shine.

MarketWatch:

  • Opinion: If this is all the downside the bears can deliver, then the bull market may still be intact.
  • Apple’s stock could soar nearly 25%, BofA says, going against tide of skepticism.
  • Jobless claims fall under 200,000 to lowest level in 16 months.
  • Fed’s Beige Book find signs of a cooling labor market across most of the country.
  • Tesla could be staring down a year of ‘growing pains,’ analyst caution.

yahoo! finance:

  • Tech is key to bringing the market out of its slump.
  • US futures point to rebound as chipmakers shine.
  • M&T Bank profit plunges on FDIC fee hit, costly deposits.
  • KeyCorp profit shrinks on FDIC charge.

Chipmakers saved the day for putting on stops to the current negative trend.

Global Indexes

S&P 500

After the doji the S&P 500 changed direction to close above its EMA8 line.

DAX

The DAX also changed direction after what appears to be an exhaustion gap and clo.

HANG SENG

The HANG SENG had a small rebound with state fund buying but remains in all negative territory.

NYSE & NASDAQ Stocks

Taiwan Semiconducter Mfg Co Ltd

It was the Q4 sales of TSM that sparked the rally of yesterday. The share itself made a large 9.8% gap.

Apple Inc

TSM is the chip supplier of Apple that lifted with a level 2 divergenge and a gap.

JSE Stocks

JSE All Shares

The JSE All Shares also made a piercing candle but was closed to respond to the US move.

Northam Platinum Ltd

Northam Platinum bounced off its 50 DMA in oversold territory with a 5.3% gain for the day.

Algomodel Strategies, Education & Features

Click on Education or go to the home page to view education posts.

Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.

All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.

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