Scalper1 News
Highly rated chipmakers Macom Tech ( MTSI ), Microsemi ( MSCC ), MaxLinear ( MXL ), Inphi ( IPHI ) and Cirrus Logic ( CRUS ) are dropping in heavy volume today, though they pared their losses as the tech-heavy Nasdaq rallied by the early afternoon. Some of the selling pressure is potentially coming from Juniper Networks ‘ ( JNPR ) earnings preannouncement late Monday. The networking equipment vendor lowered its first-quarter revenue and earnings expectations below Wall Street estimates, citing weaker-than-anticipated demand from enterprise customers. Macom tumbled intraday below its 50-day line and the 40 price level in intraday trade, but the shares are now looking for support at those levels, down 2.9% in early afternoon action. The stock is trading 11% below its recent high. Microsemi is plunging back below buy range from a cup-with-handle base buy point it initially cleared in mid-March, losing 2.5%. In intraday trade, shares neared the 50-day line, which recently crossed back above the 200-day line as the stock’s performance improved. MaxLinear also dropped back below buy range from a base it initially cleared in early March, though it pared its losses, sliding 2.8% in early afternoon action. Several weeks ago, the stock dipped back below buy range but found support at the 50-day line before regaining composure. Inphi is still well extended from a double-bottom entry at 28.54, but it tested the lower bound of its buy range from an alternate entry at 32.42. Shares dipped 1.2% to 33.41. And Apple ( AAPL ) supplier Cirrus Logic is testing support at its 50-day line, but it bounced back to trade unchanged. Shares are trading 7% below their high set last May. Apple, for its part, rose 0.6% intraday. Meanwhile, Juniper Networks gapped down 8% on the bearish outlook, plunging below its 50-day line in giant volume. The stock is now 29% below its November peak. Scalper1 News
Scalper1 News