Tech and chip stocks are leading the Nasdaq 100 higher. What are the technicals telling traders in some of the chip stocks?
Tech stocks are leading the way higher in trading today, with semiconductor shares among the strongest performers. Nvidia is currently up 2.56%, Micron is up 6.20%, Intel is higher by 3.25%, and AMD is gaining 2.64%. All of those gains are all of those gains are higher than the average is with the NASDAQ index up 0.68% and the NASDAQ 100 up 1.0%
In the video above, I take a technical look at each of these chip stocks and break down what today’s price action is telling traders about the bias, the risk, and the potential targets.
For traders looking for opportunities, the technicals help identify key levels where buyers or sellers may take control. They also provide low-risk levels to lean against, allowing traders to define their risk while identifying the targets that could come into play if the momentum continues.
This article was written by Greg Michalowski at investinglive.com.