3 Top Chipmakers Breach Key Levels, But One Is In Profit-Taking Zone By Scalper1 | April 21, 2016 0 Comment Scalper1 News alt : http://feedproxy.google.com/~r/InternetTechnologyRss/~5/4TqZvao_ikc/chips042116_sd.mp4http://feedproxy.google.com/~r/InternetTechnologyRss/~5/4TqZvao_ikc/chips042116_sd.mp4 Loading the player… Chipmaker Mellanox Technologies ( MLNX ) is plunging in giant volume in the stock market today on the heels of disappointing guidance issued late Wednesday. Mellanox beat Q1 earnings and revenue expectations, but its Q2 revenue outlook widely missed expectations. Shares gapped below their 50-day moving average and neared the 200-day line in intraday trade, tumbling more than 12%. Let’s take a look at how some highly rated chip peers are doing: Cirrus Logic ( CRUS ), Inphi ( IPHI ), MaxLinear ( MXL ) and Silicon Motion Technology ( SIMO ). Apple ( AAPL ) supplier Cirrus Logic is falling 3.1% in quick turnover, dropping below its 50-day moving average. Shares are now trading 10% below their May high and a potential buy point from a long consolidation pattern. The drop comes ahead of Apple’s earnings report next Tuesday, where we’ll get a sense of the consumer tech giant’s iPhone production — which has an impact on its suppliers. Meanwhile, Apple shares fell 1.2% intraday. Inphi is dropping back below buy range from a cup base it initially broke out of about a month ago, losing 5.2%. Shares are still extended from a double-bottom entry but are now 10% below their April 1 high. MaxLinear is continuing its rebound today, rising 1.1%, after breaching its 50-day line in Tuesday’s session. On Wednesday, the company tightened its Q1 revenue guidance and raised its gross margin target. And Silicon Motion Tech hit another all-time high in above-average volume in intraday trade, paring its gains to a 0.6% rise by the afternoon. The stock is now in profit-taking zone, with a gain of more than 20% since breaking out of a long cup-with-handle base last month. Scalper1 News Scalper1 News Related posts: Facebook Nears New Buy Point As Big Techs Retake Key Levels What Do The New iPhone SE, iPad Pro Look Like? See Here These 5 Leading Tech Stocks Have Major Hurdles To Clear PayPal At The Heart Of Facebook, Starbucks Mobile Payment Offerings