Blast From The Past Could Be Ready:
We are well aware that the semiconductors have done the bulk of the heavy lifting within technology in the first quarter of 2023. Some have participated more than others, and of course NVDA there must be given an honorable mention up nearly double this year so far. AMD is trying to stay in the same sentence and has acted well POST breakout above a cup base pivot of on 89.04 taken out on 3/15. Not surprisingly it is meeting some difficulty at the very round par number here. On the other end of the spectrum laggards which are in the red YTD include WOLF TSEM and AMBA. Below is the WEEKLY chart of MU which is showing some signs of life here, but it should gravitate toward the very familiar 65 level in the near term (the ascending triangle can also be looked at as a complex inverse head and shoulders). On its daily chart, it is just above a double bottom with handle breakout pivot of 61.88 from 3/29. Will the 64 area become a triple top from last November and this January?