The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
This morning, the important and highly followed semiconductor sector is soaring sharply higher. Many traders and investors follow the semiconductors very closely because throughout the years they will signal a sign of strength for the technology stocks. Almost every tech gadget in the world has a semiconductor in it. Seasoned traders and investors know this and will usually ride the NASDAQ Composite higher until the major resistance level on the chip sector is reached.
Posted in: Technicals, Trading Ideas