On Monday we had NFTRH+ updates on a couple of prime Semi Equipment names, Applied Materials (AMAT) and Lam Research (LRCX).  This was a logical extension of the weekend report’s analysis of the sector.

After the updates I found it interesting how each of these items have remained firm on days when the market is having Brexit jitters and Bremain euphoria alike.  That may mean somebody is determined to enter these names.  You know, the maybe 5% who bother to look a little further than puff piece analysis?

Anyway, here is the daily chart of LRCX we reviewed in real time as it made its first attempt to break resistance.  So far, so good.

More compelling is the weekly view.  This was also included in the update.  If we get a weekly close above the dotted lines (and the world doesn’t suddenly end because one nation does not want to be part of a union of other nations), that turns to support and the chart shows the target.  This one reminds me of the NFTRH+ MDT highlight (which has since hit target), only this one looks even better.

Of course these are the financial markets and the things above are just charts.  We have got to be right on the fundamental view of the Semi Equipment sector and of course the market backdrop needs to not totally wig out as well.  But so far, so good.  Now if we can get through the Brexit/Bremain theater just maybe the market will stabilize and finally, choose a direction.  As of now it’s hinting bullish.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.