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KLA Corp (KLAC) Technical Short Trade Level Hit

KLA Corp (KLAC) Technical Short Trade Level Hit

Shares of semiconductor KLA Corp (KLAC) hit a new all-time high on Friday in light trading volume. While that may sound bullish, technical traders are beginning to look at shorting this overbought play. The key here is a technical hit of a long term trend line shown on the chart below. This should likely trigger a hard sell in the stock after it breaks above $150.00. Traders expect a near-term pull back to $130.00 within 8 weeks.