Semiconductors quick analysis on LETF
I don't like doing TA on leveraged ETFs generally, but you can get a good idea of what's going on. Using SMH for semis would be better, if I were using fib ratios I'd definitely use an unleveraged product for charting.
Chart text repeated here:
potential reversal area, might be able to squeeze another 7% out of the current rally, would wait to go long on a 100/200DMA break.
Also could be a nice SOXS short if we break down out of the reversal area.
Chart text repeated here:
potential reversal area, might be able to squeeze another 7% out of the current rally, would wait to go long on a 100/200DMA break.
Also could be a nice SOXS short if we break down out of the reversal area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.