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Semiconductors Breaking Out!

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As I reviewed my scans to write the "DecisionPoint Diamonds" report, I noticed a theme in Technology, particularly in the Semiconductor industry group (SOXX). I zeroed in on my favorites to present in today's DecisionPoint Diamonds report (if you'd like to see those charts, you can subscribe to the Diamonds report on DecisionPoint.com. For ONLY $25/mo you will get 60 stock picks a month!).

Let's look at the ETF that tracks to the Semiconductor industry group, SOXX. We can see a nice breakout to new highs and a pullback today that brought price right to the breakout point. As many of you know, I love finding the stocks that have broken out and then pulled back to support. It showed strength on the breakout, followed by profit taking. If there is internal strength and positive indicators, the stocks within this group could be excellent short-term investments. This ETF has rising momentum and the OBV is confirming, not only with rising bottoms, but also setting an OBV top that is above the prior two. This tells us that volume did come in on this breakout.


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Happy Charting!

Erin


As investors we want to accomplish two basic things: (1) Determine the trend and condition of the market, and (2) select stocks that will ride that tide. The DecisionPoint Alert helps with the first step, and DecisionPoint Diamonds helps with the second. Go to DecisionPoint.com and SUBSCRIBE TODAY! (Charter Subscriber Discounts Available!)


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Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More
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