Short entry stop limit order at $45.2 with hard stop loss at $49.35
The industry is setting up for both longs and shorts with a few names setting up short on the weekly timeframe at spots where I like taking shorts. If this one works, I will be adding another couple of names that are setting up.
I will update with first profit target as the trade develops, if...
Started a long swing position last week w/ $52 avg after nice reversal. Looks ready for next leg up on both the 1 hour and 1 day. Depending on how it closes tomorrow the weekly candle could close as a very nice hammer candle just under the 20 EMA.
Broke above the 5-12 EMA cloud today after a strong bounce off the $48.50 support. Testing the downtrend line today and if it holds above that I'm going long on some end of year $65 calls
SMH hitting a nice pivot today, most names look like they have blue sky territory like NVDA, MXL, ASML and now possibly KLIC? Sitting in the mid cap range, the market could see this semiconductor as the sweet spot given the Fed rate environment
This morning a trader sold 620 $KLIC Apr $13 calls for $3.40 (paid $1.65 on January 5th) and bought the Apr $15 calls for $1.60 each. On average just 155 calls trade per day.
Shares of the $1.3B semiconductor equipment are nearing a breakout above the $16.50 level, following the $FSL/$NXPI merger news. The stock isn't expensive either at a P/E ratio of 15.98x...
