Recently broke the minor yellow up and reversing right at the long term since last spring.
Initial target is the bottom of the trading range. $404ish depending on when it hits it.
2nd target is the horizontal support right below the channel. $384.46
As how the overall sentiment is in the market recently, once it turns, it will be pretty quick move downward. Potential long term targets are listed but SOXX will not going to fall double digit without if XLK and indexes are resilient.
Only the time will tell but it will be prudent and be cautious. Scaling down on aggressiveness won't be a bad idea and have some hedges.
Have a good trade everyone,