Chips: los soportes esperan más abajo

Chip stocks are looking for support below the current levels, as investors await more favorable news. The SOX index for chips has found a strong support range between 10,000 and 10,200 points since the start of the week. The market's focus has shifted to concerns about AI safety, which led to a nearly 6% drop in the index on Monday.

In July, the index had reached even lower levels with far less market reaction. After reaching its recent lows, the index has been slowly climbing since March, after a 107% surge in under three months. While rebounds are expected, a decisive lower support level has yet to be established for a potential uptrend with a focus on new highs.

Key support levels to watch include ASML at around 1,300 euros, which aligns with highs in January, February, and April. Analog Devices shows potential support between $327 and $340, coinciding with an April breakout gap. Marvell Technology has a clearer support at the July lows at $163, with a more relevant range of $140 to $150 below.

Intel's major support zone is $66 to $80, the impressive breakout gap from late April. ARM Holdings received a buy signal in late April after breaking above 2024 and 2025 highs, with the 183-188 euro range now awaiting further testing. Taiwan Semiconductor's watch zone is $373 to $380, marking summer lows and the 200-day moving average.

AMD could become interesting again around $450. Nvidia is expected to remain supportive if the 190-dollar support holds. Broadcom shows limited downside risk, as the stock has been nearly flat for the year, driven by gains exceeding 60% of the SOX index. Weekly candlesticks illustrate Broadcom's extreme underperformance compared to the worst point in April 2025.