POET Technologies (POET, $4.5) Takes a Break: A Look at the Recent RSI Indicator Dip
POET Technologies (POET, $4.5) has been on an upward trend for a while now, but recent indicators suggest that the trend may be coming to an end. In this blog post, we'll take a look at what the indicators are saying and what traders should consider.
POET's RSI Indicator: The End of an Uptrend?
POET's RSI Indicator has left the overbought zone, signaling a potential shift from an uptrend to a downtrend. A.I.dvisor's analysis of 31 similar cases where POET's RSI Indicator left the overbought zone showed a successful outcome in 29 cases, giving the current scenario a 90% chance of success. Traders may want to consider selling the stock or exploring put options.
POET's Moving Average: A Sign of Continued Growth?
On April 28, 2023, POET moved above its 50-day moving average, indicating a change from a downward trend to an upward trend. In 47 of 50 similar past instances, the stock price increased further within the following month, giving the current scenario a 90% chance of continued upward growth. However, traders should still keep an eye on other indicators, such as the RSI Indicator, to see if there are any conflicting signals.
POET and CEVA: Low Probability of Moving in Lockstep
A.I.dvisor's analysis of POET's correlation with CEVA showed a low correlation of only 28% for the last year. This suggests that there is a low statistical probability that POET and CEVA's prices will move in lockstep. Traders should consider this when making decisions about investing in either stock.
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POET's Stochastic Oscillator sits in oversold zone for 3 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
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Notable companies
The most notable companies in this group are NVIDIA Corp (NASDAQ:NVDA), Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM), Broadcom Inc. (NASDAQ:AVGO), Advanced Micro Devices (NASDAQ:AMD), QUALCOMM (NASDAQ:QCOM), Texas Instruments (NASDAQ:TXN), Applied Materials (NASDAQ:AMAT), Intel Corp (NASDAQ:INTC), Lam Research Corp (NASDAQ:LRCX), Micron Technology (NASDAQ:MU).
Industry description
The semiconductor industry manufacturers all chip-related products, including research and development. These chips are used in innumerable electronic devices, including computers, cell phones, smartphones, and GPSs. Intel Corporation, NVIDIA Corp., and Broadcomm are some of the prominent players in this industry. Semiconductor companies usually tend to do well during periods of healthy economic growth, thereby inducing further research and development in the industry – which in turn augurs well for productivity and growth in the economy. In the near future, demand for semiconductor products (and possibly innovation within the segment) should only expand further, with the proliferation of 5G, autonomous vehicles, IoT, and various AI-driven electronics set to herald a new, advanced chapter in the technology-driven world as we know it. With burgeoning prospects comes great competition. In 2015, SIA estimated that U.S. semiconductor industry ranks as the second most competitive U.S. industry out of 2882 U.S. industries designated manufacturers by the U.S. Census Bureau.
Market Cap
The average market capitalization across the Semiconductors Industry is 46.09B. The market cap for tickers in the group ranges from 13.43K to 2.76T. NVDA holds the highest valuation in this group at 2.76T. The lowest valued company is CYBL at 13.43K.
High and low price notable news
The average weekly price growth across all stocks in the Semiconductors Industry was -3%. For the same Industry, the average monthly price growth was -1%, and the average quarterly price growth was 1%. QNCCF experienced the highest price growth at 30%, while MXL experienced the biggest fall at -43%.
Volume
The average weekly volume growth across all stocks in the Semiconductors Industry was 12%. For the same stocks of the Industry, the average monthly volume growth was 19% and the average quarterly volume growth was -0%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 58
P/E Growth Rating: 48
Price Growth Rating: 58
SMR Rating: 70
Profit Risk Rating: 62
Seasonality Score: 5 (-100 ... +100)