The semiconductor group continues to be one the sectors I'm most focused on. As I mentioned in a previous blog post, there is a shortage of semiconductor chips due to increased demand coupled with the COVID-10 pandemic and weather-related disruptions.
The charts of some specific stocks in this space have really caught my eye recently.
Recent IPO SkyWater Technology has just been an absolute monster since breaking out last Thursday.
NVDA has long been a favorite of mine and I love how it found high volume support off the 40-week line last week. I believe it has the potential to be a true leader in 2021. Please note that Nvidia reports earnings later this week which means there is added risk.
Finally, AMAT saw some big volume support come in off the $120 level the last two weeks. I'm looking to add to this one should it consolidate in a sideways manner over the next week or so. Applied Materials posted strong earnings and sales a few weeks back and is estimated to produce strong earnings growth this year.
Full Disclosure: I currently own SKYT, NVDA, and AMAT.
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