SOXL close to a strong supportSOXL tracks the performance of the thirty largest U.S. listed semiconductor companies.
The semiconductor space is still hot, but the companies in the leveraged Direxion Daily Semiconductor Bull 3X Shares (SOXL) didn`t performed well against the inflation and raising interest rates recently.
I think SOXL is now close to the strong support of $21, pre-pandemic level, from which it can bounce to the $36 resistance.
Looking forward to read your opinion about it.
Semiconductors
4/24/22 SMHVanEck Semiconductor ETF ( NASDAQ:SMH )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $ --
Current Price: $234.73
Breakdown price (hold below): $237.35
Sell Zone (Top/Bottom Range): $241.85-$261.90
Price Target: $206.40-$204.00
Estimated Duration to Target: 67-72d
Contract of Interest: $SMH 6/17/22 200p
Trade price as of publish date: $4.35/contract
TSM - 5th leg down, 3 drive pattern SHORT CITYIt is in my humble opinion TSM is looking at a rather large drop looming ahead - symmetrically the pattern meets the harmonic qualifications as well as the elliot wave theory macro wave iterations.
It is possible TSM will make a small shoulder before breaking the $100 price level - should it break this level and close below I believe it will be a swift fall to the $85 level, however if it wasn't "quick" the position I hold does allow for some time.
Trade: 6/17 exp $85 PUTS @ 1.17 on 4/1 - currently trading at 1.62 at time of post
NVDA short should drop in price to 190-195NVDA SHORT 21/04/22 07:00 GMT
14 year old English trader trading on demo accounts currently gaining experience in the markets.
NASDAQ:NVDA should drop to around the 200-205 price mark because of many factors such as inflation, monetary policy tightening, and current market sentiment.
NVDA has been deeply affected by the current market sentiment dropping 19.65% in the last month. This large price drop was caused by many things such as inflation, inflation usually negativity impacts growth stocks and positively or neutrally impacts value stocks and as NVDA is a high growth stock it has some of the best growth aspects in its sector. So, inflation has caused a large downfall for NVDA and the way the fed is aggressively trying to combat inflation suggests there is a hard landing coming for the markets. Soring electricity prices has caused NVDA to have higher operating costs. One single semiconductor factor takes up 100 megawatts per hour and usually run between 10-12 hours in a day taking around 1,100 megawatts per day. Which means it could deeply affect their earnings this quarter causing their stock price to fall. NVDA will continue to drop because of these reasons and as the Ukraine war continues on NVDA earnings will continued to be affected. NVDA is a strong buy for longer term but during this bear market with potential of recession of 35% in the next to year (predicted by Goldman Sachs) and the aggressive fed combating inflation has never been done before without a full-blown recession which suggests a tough period for the market is coming as well as NVDA
Market wrap 9:00 GMT
NVDA is currently at 20.65 which I predicted earlier the chance that NVDA ends up in the positive quite high as it is classed as oversold by the RSI which could pick up a lot of potential buyers but I can see NVDA trading between 205-195 price region over the next few days. The main reason why NVDA’s stock dropped 6.05% today was because of the death cross which is when the 50-day moving average moves below the 200-day moving average which suggest this bear market is here to stay and NVDA’s stock will continue to drop. This suggest to us that this market is not going to be short term and as the us ten-year bond rose 2.93% today which will negatively impact stocks because they usually are inversely propionate. This is why I believe NVDA should drop even further to around the 190-195 price level which could be another opportunity for a buy position I believe over the next few days the stock could rally 3 or 4% which could be a good opportunity to short.
Semiconductors stocks such as AMD or intel. AMD has dropped by 22.05 % in the last month and suggests a strong sell signal as it hit below 90 per share today. Intel has dropped 2.03% in the last month but as it is a more mature company this is expected. This suggests to us that the semiconductor market is set to fall even further as the reason I mentioned early about high energy prices causing semiconductor companies to have a negative impact on their earnings. Causing people to take short positions in these companies. This also shows the impact of inflation on growth stocks as I talked about earlier
To conclude I do not believe that NVDA will have a complete trend reversal against the S&P in this current bear market and will continue to fall has an influx of negative news continues to be delivered on inflation and energy prices. As well as the increasing fear of a recession approaching.
4/17/22 AMATApplied Materials, Inc. ( NASDAQ:AMAT )
Sector: Producer Manufacturing (Industrial Machinery)
Market Capitalization: 100.142B
Current Price: $113.36
Breakdown price: $114.50
Sell Zone (Top/Bottom Range): $125.60-$136.95
Price Target: $97.20-$94.80 (4th)
Estimated Duration to Target: 40-44d (4th)
Contract of Interest: $AMAT 5/20/22 110p
Trade price as of publish date: $4.95/contract
AMD Bullish Short Term - SemiconductorsIn my last posts on AMD and video we were bearish on the stock calling for a much lower downward target; however, we want to take advantage or short term changes when opportunities present themselves. Therefore, you can have both bullish and bearish sentiments and outlooks -- trade what the markets give you.
Market Reversal Mid-day; Bear Markets still present. Today is setting up for a key reversal day after that last push into the mid day. This doesn’t mean the bear market reversal is in but it is potential short term importance.
I went long AMD around 3:45 before the close. I provide some insight into that reasoning in my video below and on #FB
AMD is in a neutral to bearish positionAMD is in an area where it has the capability to experience a minor upswing; however, that is based on the overall market conditions and the beatdown #SOX Semiconductor index. Both #NVDA and #AVGO had the largest pullbacks today (of those that I watch in this sector). The Semiconductor Index is well below the 200 day and 50 day moving averages, which is never a good sign, and today we see the NASDAQ-100 gap down to its 50-day area.
Market conditions are not idea and personally I think the march lows will be tested soon -- that is not to say we won't have any upward impulse moves for day trading opportunities. Overall, my sentiment is neutral to bearish on #AMD based on the current complexion of the overall markets, the semiconductor index, and technical conditions.
$SOXL Key Levels, Analysis, & Targets $SOXL Key Levels, Analysis, & Targets
So this is a 3x semiconductor ETF by request for @xianloon
Buy targets are in green.
Sell targets are in red.
And I’d expect 30-44% for this trade. So if you average down into it just set your sell order for 30% above your average…
Structure of the Trade:
1 at 36.42
1 at 31.76
2 at 28
4 at 22
8 at 17.63
(Times your multiplier (x10, x100 etc)
I might play this one with you
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$ON Key Levels, Analysis, & Targets $ON Key Levels, Analysis, & Targets
Looking for 21-27% depending on how many targets hit…
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If you’ve never traded my setups, try it on a small scale 1st.
Buy
1 share at 55
1 share at 45.84
2 shares at 41.86
4 shares at 33.97
(Basically just double position each level down)
Once you see it on a small scale you can scale in your multiplier (x10, x100 etc)
Looking for 21-27% depending on how it plays out.
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$AMD Key Levels, Analysis, & Targets $AMD Key Levels, Analysis, & Targets
So for this swing I’m looking at 102.30 for entry
But I’m also thinking that target 2 could hit so as soon as target 1 fills I’m setting a buy order at target 2.
In either case I’m looking for a 30% swing.
So if target 1 fills, set your sell order 30% higher (133.38)
If it sells off and target 2 fills set your sell order for 30% above your average…
Same for target 3…
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
3/27/22 GFSGlobalFoundries Inc. ( NASDAQ:GFS )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: $42.208B
Current Price: $78.94
Breakout Price (hold above): $77.05
Buy Zone (Top/Bottom Range): $74.35-$67.40
Price Target: $90.20-$91.60
Estimated Duration to Target: 40-43d
Contract of Interest: $GFS 5/20/22 80c
Trade price as of publish date: $7.80/contract
3/27/22 MRVLMarvell Technology, Inc. ( NASDAQ:MRVL )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: $63.051B
Current Price: $74.37
Breakout Price: $75.15
Buy Zone (Top/Bottom Range): $71.80-$65.10
Price Target: $79.80-$80.80 (1st), $86.20-$88.00 (2nd)
Estimated Duration to Target: 30-32d (1st), 58-62d (2nd)
Contract of Interest: $MRVL 4/14/22 75c, $MRVL 5/20/22 80c,
Trade price as of publish date: $2.80/contract, $3.05/contract
3/27/22 NVDANVDA Corporation ( NASDAQ:NVDA )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: $695.069B
Current Price: $276.92
Breakout price: $283.50
Buy Zone (Top/Bottom Range): $261.80-$240.50
Price Target: $314.80-$316.90
Estimated Duration to Target: 54-62d
Contract of Interest: $NVDA 5/20/22 300c
Trade price as of publish date: $11.65/contract
INTC- Some trends catch fire slowly
I have been bullish on this name for a while, and missed out options play twice, but I know that market gives you several opportunities if you are listening.
This weekly chart is just a start of what I expect to be MUCH bigger move in next few years.
Test of ATh might come as early as next month. then breakout, perhaps C&H (which already shows on the monthly TF)
In the midst of semiconductor chips shortage, when every other name has been devoured by institutions and retail alike, an industry leader $INTC remains undervalued and underestimated. I expect that to change soon.
ASML BARR Bump & Run Reversal1D Chart: Normal candle.
On the day we look at the course of the Bump & Run compared to the previous TA. ( )
This is because we are on the verge of claiming or being rejected as the price is now on the “Lead-In line”.
This Friday will probably play a role in that, if the bulls really claim this, the RUN can be used.
What is also interesting on the day chart? Is that when the EMA crosses 26 on the EMA 50 a Mini Golden Cross occurs which is the beginning of bullish momentum. Of course, the EMA 50 on the 200 is the intersection that is an extra confirmation on that.
4H chart: Normal candle
On the 4 hour chart we zoom in on the Broadening Descending Wedge which has more or less put us on the Lead-In line of the bigger picture. The price is still above the old neckline of the previous M pattern and I would like to see the bulls claim this zone (as indicated on the day) to be able to move further up. What worries me a bit is the gap that is a lot lower and is also beyond the Golden Pocket. Also keep an eye on that scenario because in the MACD indicator we see that a downward crossing has been made, this can be temporary but I would like to add.
I also share the 4H chart: in Heikin ashi which I often find gives a calmer picture.
ASML BARR + Broadening descending wedge1D Chart: Normal candle.
On the day we look at the course of the Bump & Run compared to the previous TA. ( )
This is because we are on the verge of claiming or being rejected as the price is now on the “Lead-In line”.
This Friday will probably play a role in that, if the bulls really claim this, the RUN can be used.
What is also interesting on the day chart? Is that when the EMA crosses 26 on the EMA 50 a Mini Golden Cross occurs which is the beginning of bullish momentum. Of course, the EMA 50 on the 200 is the intersection that is an extra confirmation on that.
4H chart: Normal candle
On the 4 hour chart we zoom in on the Broadening Descending Wedge which has more or less put us on the Lead-In line of the bigger picture. The price is still above the old neckline of the previous M pattern and I would like to see the bulls claim this zone (as indicated on the day) to be able to move further up. What worries me a bit is the gap that is a lot lower and is also beyond the Golden Pocket. Also keep an eye on that scenario because in the MACD indicator we see that a downward crossing has been made, this can be temporary but I would like to add.
I also share the 4H chart: in Heikin ashi which I often find gives a calmer picture.
Nvidia Stock NVDA Is Edging HigherNvidia stock NVDA had built a strong move on Friday to post a solid gains of 6.81% and close on the resistance area around $265.00.
The stock is showing bottoming signals after violating the downward trendline, Prices have the potential to test the 50.00% and 61.80% Fibonacci Retracement levels ($276.00 - $293.00) consecutively.
It is worth mentioning that Nvidia's investors’ day event - between March 21-24 - will be watched closely across the tech sector and will boost the price's volatility.
NVIDIA DOUBLE BOTTOM W PATTERN ADAM EVEAn update on NVIDIA
We are a month further and a lot has happened in a month.
Looking at the 4 hours:
Following the previous TA, the bulls had failed to break through. As a result, as reported, we may have started to fill the gaps that were lower, which have now been filled. It was perhaps a bit early to call but… in the end the double bottom W pattern formation is as good as a fact. In fact, I spot 2 that are almost similar (large and smaller one). The price targets of both formations are stated, both the 100% price targets by means of clap and flap… but also the 69% price targets based on the ADAM EVE Double bottom W pattern
(bottom price - neckline price = X * 0.69= Xa then.... the neckline + Xa = price target).
However, the necklines must be broken and preferably provided with a re-test.
If the bulls are rejected at the first neckline, there is still hope for the USD 224 otherwise a decline towards the earlier USD 210 support will undoubtedly be tested again.