The chart posted is that of the chip sector . The put back was almost perfect to the long term trendline . So I keep it VERY SIMPLE if that low breaks run DO NOT WALK to the exit and do not buy back it for any reason
SOXX has been in a bull move since inception
right now according to FIB golden pcoket its right at the resistance level of 0.5 so 440 to 454 will make confirmation of the bull reversal
Given the recent movement it seems like it will make that break with slight correction periods and will be on its way back to its highs of 500+
Entry @ CMP
Read more about this ETF here
If you have always wanted to buy shares like Qualcomm, Nvidia, Micron, TSMC, Marvel Technology,etc , perhaps this ETF is a good option. I like that it has a fairly small components of only 30 stocks and a relatively low expense ratio.
More importantly, the 5G technological trend will drive the global demand for chips industries...
Keep an eye on the semis here as they try and reclaim the lows of this 5 week sideways range. They didn't break down as hard as the major indices and the open gap from November is still very much in tact.
Overall, we're seeing some relative strength out of this higher beta group.
SOXX, 2D: Taking a look at the SOXX 2D chart I have drawn out a linear regression channel beginning on November 12, 2021 which was about 7 weeks prior to the ATH print at 557.12 on January 3, 2022. The SOXX proceeded to decline approximately 41% from ATH (557.10) down to its recent low at 326.70 on July 1st, 2022 before rallying almost 30% off the floor to 424.78....
The SOXX ETF edged out the S&P 500 for the 1-year return, but it significantly outperformed the S&P for the 3-, 5- and 10-year returns, through January 31, 2022.
Summary
The semiconductor sector is expected to enter a difficult period with demand contraction due to recession and crypto winter. As the US government is increasing the effort to use semiconductors as a leverage to put pressure on China, companies in the sector might be forced to prioritize the national political agenda against profit and growth , which...
Semiconductor companies offer a lot of highly liquid securities that encourage risk-taking in all time frames, from intraday scalping to monthly market timing. The sector also supports various profit strategies, including momentum trading, basket allocations and short selling. It acts independently in many market phases, going its own way while major indices push...
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).
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...
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'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:...
