SOXX 5sma
Notice how the 5sma has been resistance for the SOXX for the past 12 trading days (red oval).
This tells us that short-term, SOXX has to break the 5sma to get out of its current down-trend.
The purple line is the 50sma, which is now also resistance, as we crossed below it, and is now touching the 5sma.
This tells us that short-term, SOXX has to break the 5sma to get out of its current down-trend.
The purple line is the 50sma, which is now also resistance, as we crossed below it, and is now touching the 5sma.
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.