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These 7 semiconductor stocks may be close to a bottom. This chart pattern shows when and how much they might rebound.

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Semiconductor stocks have been hit hard since they rose to a record in early January. Analysts see a “peaking” pattern similar to those of 2014-2015 and 2017-2018, and expect excellent performance for some during what they call “mini-upcycles.”

Semiconductor stocks have been hit hard since the industry group rose to a record in early January. Analysts at Jefferies see a “peaking” pattern similar to those of 2014-2015 and 2017-2018, and expect excellent performance for some during what they call “mini-upcycles.”

A pattern to follow Here are three charts to illustrate these patterns, based on price action for the iShares Semiconductor ETF SOXX, +0.57%, which tracks the performance of the PHLX Semiconductor Index SOX, +0.60% of 30 stocks.You can see the repeat pattern of peaks, pullbacks and rebounds.Once again, we see the pattern of “repeat peaks” for SOXX.In a note to clients on Jan. 31, Lipacis called the current pattern, with SOXX down 19% from its intraday high at $559 on Jan.

Lipacis went on to write that semiconductor stocks can swing plus or minus 40% during these periods and that “the stocks that do the worst during the mini-downcycles usually do best during the mini-upcycles, which suggests owning” the following seven, “especially after recent weakness.”Then read Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

 

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