Category: Stock analysis

Stock analysis

Chip Stocks Headed for New Highs

The PHLX Semiconductor Index (SOX) may have entered the final stage of a three-month consolidation pattern that will yield the next rally leg in the multi-year uptrend. That buying impulse has major historical significance because the instrument is trading just 150 points below the 2000 dotcom parabolic peak, with that level set to generate heavy […]

Gold Reversal Could Pick Up Steam

Gold futures are pulling back after probing July 2016 resistance at $1,370 and could lose further ground in coming days, shaking out a large supply of weak-handed long positions while attracting equally weak short sales. This cleansing process should generate a low-risk buying opportunity ahead of a potential breakout that targets $1,500, where 2012 resistance […]

Amgen Stock Breaks Out From Resistance

Amgen Inc. (AMGN​) shares rose more than 3% this week after the company announced the results from its Phase III ARCH study. The move enabled the stock to break out from an ascending triangle chart pattern to fresh 52-week highs, while the stock may also be benefiting from favorable tailwinds in the biotechnology sector. Given […]

3 Under-the-Radar Tech Plays

Big tech stocks have stuck like glue to 2017 highs since the market-leading group stalled out in July following a historic advance. Sidelined players looking to buy pullbacks have been denied low-risk entries during this period, signaling resilience that could eventually yield another round of new highs. However, it is risky to buy high in […]

MGM Downgrade Could Unnerve Shareholders

MGM Resorts International (MGM) shares are under pressure on Monday morning following a Deutsche Bank downgrade from “Buy” to “Hold.” At the same time, market players are assessing upbeat Telsey Advisory Group (TAG) comments, encouraged by MGM’s asset sales and $1 billion share repurchase program. Price action in coming days could be instructive, as buyers […]