Semiconductor Builds Bull Flag After Sharp Rebound off Support
KLA Corp (KLAC) shares of the under the radar semi are forming a nice bull flag near the upper part of monthly value and could breakout above 835 for a move up to fill the gap near 865 from mid-July. KLAC has rebounded sharply with its Semiconductor peers this month and does not report earnings until October but likely can move in sympathy later this week on NVDA earnings. KLAC doesn’t see as much options flow as other names in the group but last month saw 100 Sept $850 puts sell to open at $40 and recent buyers of 150 January $840 calls still holding in OI. KLAC also eventually could be a name that splits its stock price.