As stocks continue to rotate, technology shares are now making the unloved list. Last 5 day relative performance is below.
November 2017 Charts on the Move Video
The bull charge continues ...
November's CotM video can be viewed at the link below
All the Right Moves?
All the Right Moves
While this chart does not show it, Inphi Corp., IPHI, a semiconductor company right here in our backyard rose almost 600% from the end of 2012 until the beginning of this year. Since peaking early this year, it fell 35% and then began to consolidate sideways (underneath blue horizontal resistance zone) bouncing between $32 and $41/share.
Interestingly, last week it broke and closed above resistance on higher than average volume. Since then, as quite often happens, price is back-testing that same level testing support on lower than average volume. Yesterday closed with a hammer candle which, if we get confirmation in the next few sessions, indicates at least a temporary bottom. A breakout from this horizontal pattern indicates a price target back up to January’s highs which is more than 22% higher.
A price correction followed by at least a six month consolidation, a breakout on higher than average volume with a back-test of support is an almost perfect setup from this technicians view. A hold above support provides a compelling argument for additions to patient, risk tolerant investor's portfolios.
A Bubble or the Next Safe Haven?
Digital currencies have caught most investors off-guard. Are they here to stay or just another beanie baby investment fad?
Happy Thanksgiving - The Bull in Perspective
Thanksgiving is a blessing in disguise. With your friends and family near, make this day as special as you can and thank them with your heart. May you be bestowed upon with the best of everything and have the strength to surpass any obstacle.
Have a blessed thanksgiving
