Tower Semiconductor's 15min chart shows RSI Overbought, Bollinger Bands Narrowing.

Tower Semiconductor's 15-minute chart has recently triggered an overbought reading on the RSI indicator and a narrowing of Bollinger Bands at 09/29/2022 14:15. This suggests that the stock price has experienced a rapid and unsustainable increase, exceeding the underlying fundamentals of the company. Furthermore, the decreasing magnitude of stock price fluctuations indicates a potential loss of momentum and increased volatility.

Three semiconductor stocks—Silicon Motion Technology Corp. (SIMO), SkyWater Technology Inc. (SKYT), and Tower Semiconductor Ltd. (TSEM)—have recently gained significant attention due to their strong momentum, as reported by Benzinga Forget Nvidia And Arm, These 3 Chip Stocks Are Flashing Bullish Signals^[1]. These stocks have broken into the top 10% momentum percentile, indicating robust performance relative to industry peers.

Silicon Motion Technology (SIMO) has seen a notable increase in its momentum percentile, rising from 89.93 to 90.15 over the week. This modest gain of 0.22 points is significant as it compares SIMO to the entire basket of listed stocks. The stock has experienced a substantial year-to-date gain of 67.15% and a 60.40% increase over the past year. Despite these gains, SIMO maintains a relatively moderate quality ranking.

SkyWater Technology (SKYT) has shown the most dramatic improvement, moving from the 78.69th percentile to 91.81. This 13.12-point surge signals strong buying interest and an improvement in price action relative to peers. The stock has gained 12.84% year-to-date and 69.45% over the past year. Despite its poor growth ranking, SKYT has maintained a strong price trend over various time frames.

Tower Semiconductor (TSEM) has also seen an increase in its momentum percentile, rising from 89.81 to 90.15. This 0.34-point gain indicates ongoing accumulation and market confidence in the company's operations. The stock has advanced 32.94% year-to-date and 58.67% over the past year. TSEM has exhibited a stronger price trend in the short, medium, and long terms, with a moderate value ranking.

However, recent technical indicators for Tower Semiconductor (TSEM) suggest a potential loss of momentum. On September 29, 2022, at 14:15, the stock triggered an overbought reading on the RSI indicator and a narrowing of Bollinger Bands. This indicates that the stock price has experienced a rapid and unsustainable increase, potentially exceeding the company's underlying fundamentals. The decreasing magnitude of stock price fluctuations also suggests increased volatility and a potential loss of momentum.

In summary, while Silicon Motion Technology (SIMO) and SkyWater Technology (SKYT) continue to show strong momentum, Tower Semiconductor (TSEM) may be experiencing a loss of momentum based on recent technical indicators. Investors should closely monitor these developments and consider the broader market context.