LONG SOXX: Deep value semi conductors own moores law
LONG SOXX: Deep value semi conductors own moores law
LONG SOXX: Deep value semi conductors own moores law
Stochastic oscillator and heiken ashi already indicate a turn around from a bottom (March 20). The index typically bullish, pulling back to fibbonacci levels. Same fibbonacci retracement shows the next level (much higher).
When looking at a weekly chart, it is easier to see if an asset is in a bullish or bearish trend.
Taking a look a the SOXX, we see we are at a potential place for a bounce.
I chose the 52 exponential-moving average because there are 52 weeks in a year, and it has worked very well in the past.
A close on a weekly basis below this level is the signal to get out....
I like the setup I am seeing for resolution to the upside for semi-conductors here. I do have one concern but I'll address that shortly.
On the left is a weekly candle chart of SOXX the iShares semi-conductor ETF. The upward trendline from the covid-crash trough is firmly intact. The 100 Day EMA has proven to be key support. The index started consolidating the...
I'm forever blowing bubbles,
Pretty bubbles in the air,
They fly so high, nearly reach the sky,
Then like my dreams they fade and die.
Fortune's always hiding,
I've looked everywhere,
I'm forever blowing bubbles,
Pretty bubbles in the air.
shh JPOW
Disclaimer: post for information only; no advice or fks given
TA: Bear div, broken parabolic trend line
FA:...
Bearish rising wedge daily chart has broken down recently and back testing the trend line. Objective short entrance. Negative divergent continue to grow on both RSI and PPO.
Semiconductors reached peak bulltard due to shortages. The uptrend started back in 2013 and was barely affected by covid. At the peak it was 40% above the weekly kijun. Interesting to see what happens. The next big short or just an expected correction?
Semiconductors/chips continue to be an essential part of everything around the globe.
For a year, we have maintained an upward trend, which is being tested today.
There are clear outperformers in the industry, but it is clearly been working for all of them as a whole.
When we have touched the trend line in the past, we have had a 50 point gain, which has...
NASDAQ
