EarningsBeats.com Digest for November 5, 2021
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A Semiconductor Poised to Launch!
Semiconductors ($DJUSSC) had a huge day on Thursday and have been ripping higher since early October. The index has surged more than 20% since the October 4th close. While many semiconductor stocks like NVIDIA (NVDA) and Advanced Micro Devices (AMD) broke out several days ago, and another familiar name, Applied Materials (AMAT), broke out
yesterday, there are some still waiting in the wings for their turn in the sun. I believe one of those stocks is Smart Global Holdings (SGH), which has been consolidating for 7 months:
SGH is one of our Strong AD (accumulation/distribution) Portfolio stocks and after taking a quick look at its AD line, you can understand why. We added it to our portfolio on August 19th (black-dotted vertical line) and it's been a terrific performer for us. A close above 57 would likely ignite a much bigger run to the upside, so that's what I'll be looking for. Currently, the PPO is showing strong upside momentum and since our August 19th
inclusion in our portfolio, SGH has shown nice relative strength vs. its semiconductor peers. Now that the DJUSSC has broken out vs. the S&P 500, I'd be looking for much more strength in this industry. If SGH breaks out, I could see it becoming one of the leaders, especially with such a strong AD line confirming.
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Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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