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

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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tech stocks edge higher after Meta routGrowth and technology stocks rebounded on Friday, as traders weighed stellar results from Amazon.com Inc against an unexpectedly strong U.S. employment number that propelled Treasury yields higher.
Source: Reuters - 🏆 2. / 97 Read more »

Stocks close mixed after strong jobs report adds fuel to Fed plan to hike interest rates'The report is unequivocally good for the economy, but not for markets,' one Wall Street analyst said.
Source: CBSNews - 🏆 87. / 68 Read more »