AMD is forming a reverse head and shoulders. If we can break the ATH resistance on good volume, AMD will probably keep rallying. RSI has been trending higher, but it is not as high as it was in its past peak. (short-term bear). OBV has been trending higher, and its current value is slightly higher than its previous peak (short-term bull). Keeping on a watchlist.
LOOK FOR THAT THOUGHT OVER INTO 2000 NOW WAVE 4 WAS .618 OF LAST UP LEG I AM NOW LONG SOXL 250
There are long periods of positive correlation between average bitcoin hashingrate in gigahashes/second and performance of major semiconductor ETFs like SOXX and SMH As hashing and computing power in general shows massive increases in demand there are only a few companies that have the materials and knowledge to produce 'rocks that think' aka processors and other...
I'm not currently short the semis but upon doing some research I found a nice setup thesis. Similar weekly candles. I see the previous time SMH found it's low about 15.7% down from that weekly candle close after 29 days. If you use the same 15% calculation after 28/29 days, it brings you to the 23% fibonacci level at $120. This is only a theory at this point and...
Semi-conductors are looking a bit precarious at this point, as you can see we appear to be in a serious of lower lows and lower highs, this is compounded by the falling momentum in the market as a whole. This coupled with overall weak internals lead me to believe that further weakness is not out of the question, particularly if the price action is unable to break...
Momentum is lagging a lot $NDX, $IXIC, $SOX
Four times was rejected at the same area, and volumen has been drying when it wants to resumen the uptrend, i don’t have a position but in a macro view and don’t like this type of action.
Taiwan Semi getting ahead of itself as has the $SMH Do not trade on my opinions. Your trades=Your responsibility TSM SMH SOXX
SOXX is on the verge of a major breakdown, much like the one that lead to the melt down in Q4 of last year (followed by a ~20% drop after the trend break). However, we are not there yet because we are resting on support. The main, long term pattern we are looking at is a bearish rising wedge. Within the wedge we also have a symmetrical triangle which was entered...
Liking a swing opportunity in LSCC here. It's got that look to it!
iShares semi-conductor ETF (SOXX), on Thursday had its largest inflow of the year with more net inflows on Friday. I would prefer entry at $194 - $195, but I am getting long at $198.43 with a TP of $220.
Price tested out of reversal pennant and skyrocketed, then backtested and bounced again. Out and waiting to get in on the next backrest... if there is one
First Fib - December 26, 2018 Lows to April 24, 2019 Highs Second Fib - April 24, 2019 Highs to May 29, 2919 Lows We can see a very clear neckline @ approx. $174.94. Assuming the width of the shoulders are perfectly symmetrical, we could see a break of the neckline within 28 days, however, Powell's rate cut decision will either accelerate/nullify this process..
If SOXX breaks $180 look out below. The trade war is heating up now.
Decided to get some soxs today. spx run loosing pressure? Will another china tweet push over highs? will tsm lowered guidance inspire investors?