This story was originally published here.
Semiconductor stocks saw massive capital inflows last week as many jumped to record highs. With fresh strength taking the industry, now is a perfect time to hunt for opportunities. While some constituents have run beyond low-risk entry points, others still sit at attractive buy areas.
We’ve seen increased attention on the worldwide shortage of chips. Causes range from spikes in demand for electronics, a slowdown in production following the pandemic, and the U.S. trade war with China during the Trump presidency.
While companies across various industries are grappling with the longer lead times to get their hands on semiconductors, it doesn’t seem to be adversely impacting the price action of chip companies.
Quite the contrary, traders are rushing into the space and extending well-entrenched uptrends. I’ve scoured the top holdings in the VanEck Vectors Semiconductor ETF (NYSEARCA:SMH) and found tasty trade setups in these three stocks.
After a brief look at their respective patterns, I’ll share my preferred way to play… Story continues here.
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