Don't Ignore This Chart!

KLA-Tencor (KLAC) Testing Key Support Zone

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Semiconductors ($DJUSSC) are one of the worst areas of the market today and have been one of the worst areas of technology over the past week.  KLA-Tencor (KLAC) has hit a key area of support, however, and certainly presents a much better reward to risk opportunity.  60.53 represents gap support and the February intraday low was 59.74.  These are two critical levels to watch as support in the near-term.  Should the DJUSSC begin to lead again on a relative basis, KLAC would most likely follow suit.

Happy trading!

Tom Bowley

Tom Bowley
About the author: co-founded Invested Central in 2004 and served as the site's Chief Market Strategist for more than 10 years. Invested Central provides stock market education and guidance for those interested in making their own financial decisions. During his tenure at Invested Central, Tom co-hosted Market Open LIVE, a national radio broadcast that covered many of the largest markets across the U.S. In addition, he has spoken at various conferences throughout the United States and Canada and has taught thousands of traders across the globe how to trade equities more wisely with an emphasis on managing risk and intermarket relationships. Learn More
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