Given a heads up from a friend some time ago, SOXL was closely tracked and position taken at 14.80 (white arrow).
There was immaculate synchrony on the weekly and daily charts, as it fell in a falling wedge. The weekly technical indicators turned as the weekly candlestick hinted of a possible trend change. The daily technical indicators similar in sync and a break above the HULL moving average also coincided to a breakout of the wedge.
Looking for a move to 32. A very good amount of space, over the next couple of weeks.
Senate vote on chip bill this is an easy double. I’m in below 16
Auguraltrader
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@Nickquick7, wow nice! That is awesome! Thanks for the feedback and share about the chip bill... I didn't know about that. Now I do, thanks to you!
Nickquick7
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@Auguraltrader oh dude go read up on that. 54billion spending. Procedural vote completed paves way for likelihood of passing. This is a massive gov spend to bring chip making back on shore.
Auguraltrader
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@Nickquick7, oh wow... thank you very much for the heads up. Sounds like a major structural change here that would launch projections! Really appreciate your share. We can do many things but cannot do everything. By your sharing, I learnt much.
Nickquick7
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@Auguraltrader passed the senate and house now going to Biden to be signed into law
Auguraltrader
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Good day @Nickquick7 Thanks for the update. I too noted the news from CNBC yesterday about the semiconductor bill. Appreciate your updates here too. :) Cheers!
ProjectSyndicate
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solid chart and neat write-up
Auguraltrader
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Thank you for the vote of confidence and comment @ProjectSyndicate! Appreciate it very much