AGGRESSIVE STOCK BUYING ON RISING LAYOFFS AND REVENUE RISE AT THE LARGEST CHIP MANUFACTURER TSMC
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Buying On Rising Layoffs
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows that the stock market has vigorously risen from the recent pullback.
- The chart shows that RSI reached oversold levels during the recent pullback and now has risen to touch the lower band of the overbought zone. Historically, this setup leads to more stock market gains.
- The chart shows that the volume during the recent rise is not heavy.
May 10, 2024