SPELS Semiconductor about to "Spell-Out" MagicSPELS Semiconductor is one of the first stock in India venturing into the Semi-Conductor space and with the recent push for Make-in-India scheme and the Growing demand of Semi-Conductor worldwide + the Anti-China policy (China+1) adopted by many countries, India has become a Favourite Hotspot for Semi-conductor manufacturing
Let's look at the Technicals of SPELS:
Getting ready to Blast. 3 Amazing Bullish Structures
1. Monthly - Large C&H - BO above 105 WCB for target of 200++ (2x opportunity)
2. Weekly - Inv H&S - BO already done target 99
3. Daily - Flag Pole BO - Happening - buy above 80 WCB for Target of 102
Each lower timeframe BO will take to the next Higher Timeframe BO zone. Multibagger pick. already 40% up from our Recommended Levels
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Semiconductorshortage
Bottom in SOXL is in?Arguments pro a bullish scenario in $SOX / $SOXL:
We have reached the 78.6 % fib retracement in SOXL
According to the seasonal chart from the last ten years (see the SEASONAX screenshot at the top), in 9 of 10 cases the $SOX had made a bullish move from the 17th of May until the 8th of June
At some point, the semiconductor shortage must affect the prices ...
Contra arguments:
$DXY is rising / interest rates are going up
... anything else?
I can't see any significant arguments standing against the bullish case in $SOXL. If you have anything - please drop a comment below!