Semiconductors sector rises 0.8% on high volatility
News Bites US Markets
August 25, 2010
Compared with the NASDAQ-100 INDEX which rose 0.9% (or 15.6 points) on the day, this represented a relative price change of -0.03%.
Since open its volatility (highest price minus lowest price/lowest price) of 3.3% was 1.1 times average daily volatility of 3.0%, up from 2.5% on the previous trading day and 2.9% on the day before. The Sector range has expanded in the last two days (from 49.7 points two days ago to 54.5 points today) which, accompanied by a Sector rise, is a bullish signal.
The Sector traded between an intraday low of 1,673.7 and a high of 1,728.2.
TECHNICAL ANALYSIS
The Sector hit a seven-month low of 1,673.7.
PRICE VOLUME DYNAMICS
Volatility: the Sector traded between a seven-month low of 1,673.7 and a two-day high of 1,728.2. Intraday volatility (highest price minus lowest price/lowest price) of 3.3% was 1.1 times average daily volatility of 3.0%.
Moving Average (MA): the Sector value to 200-day moving average ratio is 0.92, a bearish indicator.
In the past 200 days this ratio has been under 0.92 just once suggesting a support level.
The Sector is trading below both its 200-day MA and the 50-day MA. Further, the 50-day MA of 1,853.5 is lower than the 200-day MA of 1,862.5, another bearish indicator.
Relativities: in the NASDAQ market of 2740 stocks, 44 sectors and 10 indices, the Sector has a 6-month relative strength of 48.7 indicating it has underperformed 51.3% of the market. (Rank 1172 out of 2794)
Today its percentile rank in the NASDAQ market was 49.4. (Rank 1155 out of 2794)
Also, the relative strength percentile is slipping at 48.7 for 6 months, 46.4 for 3 months and 30.2 for 1 month.
Price Dynamics: the Sector is at a discount of 20.6% to the 52-week high of 2,162.9 and a premium of 10.2% to the 52-week low of 1,559.0.
Volume and Turnover Period: the average turnover rate of the Sector is 382.2% or an average holding period of 3 months.
SHAREHOLDER RETURNS
Trailing One Week: the Sector fell three times (60% of the time) and rose twice (40% of the time). The value of US$1,000 invested a week ago is US$964 [vs US$969 for the NASDAQ-100 index] for a capital loss of US$36.
Trailing One Month: the Sector fell fourteen times (61% of the time) and rose nine times (39% of the time). The value of US$1,000 invested a month ago is US$875 [vs US$956 for the NASDAQ-100 index] for a capital loss of US$125.
Trailing One Year: the value of US$1,000 invested a year ago is US$1,047 [vs US$1,095 for the NASDAQ-100 index] including a capital gain of US$38 and dividend reinvested of US$9.
RELATIVE VALUATION INDICATORS [RVI]
SEMICONDUCTORS SECTOR vs NASDAQ-100 INDEX [NASDAQ-100 INDEX Average in Brackets]
Better than NASDAQ-100 INDEX Average: Return on Assets of 7.0% [6.9%]; Yield of 1.0% [0.2%].
Worse than NASDAQ-100 INDEX Average: Return on Equity of 9.3% [14.0%]; Year-on-year growth in EPS of 7.4% [15.0%]; P/E of 27.5 [23.8].
BULLISH SIGNALS FROM TOP THREE RANKED STOCKS (VI or Volume Index in brackets; 1 is average)
[Ranked from the top three out of 86 stocks in sector; sector average in brackets]
OSI Systems (OSIS.O) had the highest rise, jumping US$2.27 (or 8.4%) on firm volume (VI of 1.4) to close at US$29.23.
Actel (ACTL.O) jumped 7.2% in the past week to close at US$14.66.
TranSwitch (TXCC.O) soared 17.4% in the past month to US$2.77. 4.2% premium to volume weighted price [3rd; -5.6%].
MIPS Technologies (MIPS.O) soared 15.8% in the past month to US$6.46. 4.6% premium to volume weighted price [2nd; -5.6%].
Cirrus Logic (CRUS.O) climbed 88.0 cents (or 5.7%) to close at US$16.43; its six-month relative strength of 99 is the highest among rising stocks.
Virage Logic (VIRL.O) strengthened 3.0 cents (or 0.3%) to close at US$12.0; its six-month relative strength of 98 is the highest among rising stocks.
The stock with the lowest P/E (trailing 12 months) in the index is Pixelworks (PXLW.O) at US$2.73, with a P/E of 5.6 times [1st, 53.9].
Silicon Image (SIMG.O) soared 10.4% in the past month to US$3.83.
AXT (AXTI.O) advanced 35.0 cents (or 6.7%) to close at US$5.54; its six-month relative strength of 97 is the highest among rising stocks.
BEARISH SIGNALS FROM BOTTOM THREE RANKED STOCKS (VI or Volume Index in brackets; 1 is average)
[Ranked from the bottom three out of 86 stocks in sector; sector average in brackets]
Among the heavyweights, the steepest fall in MCap took place in Rubicon Technology (RBCN.O) where Mcap fell US$18.1 million. 1-day price fall of 3.4% [3rd; 0.8%]. The stock fell for a third day, a three-day fall of 4.0%.
Canadian Solar (CSIQ.O) crashed 10.8% in the past week to close at US$11.14. Its relative strength 6 -months (or price close today/price close 6-months ago, then ranked by percentile in the entire market) is 7 [3rd; 48.7].
inTest (INTT.O) crashed 38.3% in the past month to US$2.56. 20.6% discount to volume weighted price [1st; 5.6%].
Conexant Systems (CNXT.O) crashed 38.2% in the past month to US$1.49. 20.2% discount to volume weighted price [2nd; 5.6%]. The ratio of price to 200-day Moving Average Price (P/MAP) is 0.5 [2nd; 0.9].
MEMSIC (MEMS.O) decreased 4.0 cents (or 1.7%) to close at US$2.31; its six-month relative strength is 10 which means it is trailing 90% of stocks.
Entropic Communications (ENTR.O) had the steepest fall, reducing 0.7% on high volume for a fifth consecutive day, a five-day fall of 8.1% to US$7.14.
Among stocks in significant downtrend the fall was the second steepest in ChipMOS Technologies (IMOS.O) falling 5.0 cents (or 4.6%) to close at US$1.03 (down 6.4% for week and 18.3% for month).
Among stocks in significant downtrend the fall was the third steepest in CVD Equipment (CVV.O) falling 15.0 cents (or 4.2%) to close at US$3.41 (down 1.4% for week and 5.5% for month).
Tegal (TGAL.O) crashed 36.5% in the past month to 46.99 cents. |
