Don't Ignore This Chart!

Altera Forms Big Bullish Engulfing Pattern


Semiconductor stocks showed some relative strength on Monday. Altera (ALTR) participated with a big bullish engulfing on high volume. This is the second high-volume advance in the last five trading days. Look for follow through above resistance at 38 for confirmation.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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