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ChristopherCarrollSmith

SOXL trend lines to watch

Long
Direxion Daily Semiconductor Bull 3x Shares (AMEX:SOXL)  
ChristopherCarrollSmith Updated   
AMEX:SOXL   Direxion Daily Semiconductor Bull 3x Shares
Trend Lines technology semiconductors
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trendline technology semiconductors
Semiconductors have been in a fairly strong uptrend and broke above their parallel channel yesterday, and they could cycle up again later today. However, watch out for the possibility of a breach of the lower trend line, especially if Taiwan Semiconductors earnings are bad tomorrow.
Comment:
I stopped out of this trade at 185.30. It's not moving through the lower trend line with with any kind of conviction, but it's not bouncing either. I'm thinking it will continue downward toward 180.
Comment:
Adjusted channel

snapshot
Comment:
Look at this absolutely perfect bounce from the bottom of my adjusted channel. Wow, wish I had paid attention to this today!

snapshot

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