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SOXX

Teradyne - Cup & Handle + Measured MoveTeradyne made a cup & handle, which continues to see strength. Cup & Handle -- Measured Move Making a measured move from the floor of the cup, to the resistance which was all time highs, we get a 18 points (12% aprox.) potential move. Trade Would follow the 5sma (green line) to take profits for 50% of my position, the other 50% if it takes the Resistance 1 level. There are also other semiconductors making ATH, which is adding to the strength in the industry overall.
NASDAQ:TERLong
by dorfmanmaster
NVDA: Is This The Start Of A Multiyear Bull Run?NVDA 1M: 2016 - Price formed "U" at/below previous ATH. Slow Stochastic hit overbought then formed "U". Price then broke the ATH and the following bull run lasted 2.4 years and returned 600%+. 2020 - Price formed "U" at/below previous ATH. Slow Stochastic hit overbought then formed "U". Price then broke the ATH. The 2020 NVDA chart + indicators share many similarities to 2016 NVDA. Is this the start of a multiyear bull run for NVDA? Link to my previous NVDA charts below.
NASDAQ:NVDALong
by ll21LAMBOS21
1
Nividia Poised for ATH Test!Exhibiting signs of exhaustion, U.S. equities gave up nearly all their gains from the morning, closing today's session flat. The Dow Jones Industrial Average gained +0.56%, the S&P 500 +0.90% and the Nasdaq 100 led the way with +1.09%. Interestingly, a number of heavy hitters are roaming around resistance. One name of note is Apple which finally entered a region where I'd suspect sellers to begin coming in between 301-308. I'll touch upon Apple tomorrow morning. Today, we take a look at Nividia Corp. ahead of earnings May 21st. All-Time High Bound? With Nividia Corp. (NVDA) reporting their quarter one earnings on May 21st and yesterday's news that it acquired Cumulus Networks, a deeper look into the charts was deserved. Below is the 4-hour chart of NVDA. NVDA has rallied 68% off the March lows and has been consolidating at its highs for just over two weeks, a bullish sign. Additionally, resistance at 300 has been tested a third time, as NVDA posts higher lows on declining volume, also bullish. Notice the ascending triangle taking shape. Although, known as a bullish continuation pattern, it is not confirmed until a breakout to the upside. With a breakout the projected target would would propel NVDA to all-time highs of 340 per share. There is a lot of positive going for NVDA heading into earning's. That said, could NVDA be setting up as a sell the news candidate? The ascending triangle set up is poised to breakout prior too May 21st earnings. It is something to keep in mind if taking on the bullish trade. With fundamentals and technicals aligning heading into earnings, its hard not to be bullish NVDA. Bias: Bullish . Flat Week Continues Today was the second straight day U.S. indicies posted flat gains. It's really not a surprise. There is a log of uneasiness in the market and tomorrow may shed some light on that uneasiness. Tomorrow the ADP unemployment report is released and should offer some insight on Bureau of Labor Statistics unemployment rate announcement this Friday. Spoiler, the the report won't look great. Until then, have a great evening!
NASDAQ:NVDALong
by DailyClose
Semiconductors & Hashing-Rate Correlation StudyThere are long periods of positive correlation between average bitcoin hashingrate in gigahashes/second and performance of major semiconductor ETFs like SOXX and SMH As hashing and computing power in general shows massive increases in demand there are only a few companies that have the materials and knowledge to produce 'rocks that think' aka processors and other computing components made of earth metals and silicone. When I see big printing bars in hashing power but 'divergence' in correlation I may consider adding to semiconductor positions via options on semiconductor ETFs and computing component companies like INTC, AMD, NVDA, and the like as it means someone went out and made a huge investment in processing power in order to make a 'blip' on the hashing map but the ETFs are reflecting a downside move. This divergence between correlation of hashing rate and semiconductors displays a market inefficiency in the expectation for demand of semiconductors and actual demand for semiconductors. This divergence is an opportunity for us to capture in my estimation. I hope this makes sense and helps your own analysis Good luck have fun Much Love xoxo snoop
HLong
by 420snoop
5
SMH Short Thesis The Next MonthI'm not currently short the semis but upon doing some research I found a nice setup thesis. Similar weekly candles. I see the previous time SMH found it's low about 15.7% down from that weekly candle close after 29 days. If you use the same 15% calculation after 28/29 days, it brings you to the 23% fibonacci level at $120. This is only a theory at this point and I'll continue to do some digging on it. But it looks ripe for a give back leading up to earnings or after earnings. I'm going to look for a put spread entry on Monday. Good luck - and as always, don't trade based on my opinions or hypotheses. SMH
NASDAQ:SMHShort
by StockPickingEnthusiast
SOXX - Further Weakness - Short Setup Semi-conductors are looking a bit precarious at this point, as you can see we appear to be in a serious of lower lows and lower highs, this is compounded by the falling momentum in the market as a whole. This coupled with overall weak internals lead me to believe that further weakness is not out of the question, particularly if the price action is unable to break above the upper descending trendline. Should the price fail at the upper trend, then a visit to the 55 ema or even the 89 ema is quite likely. This would constitute a move lower of up to 5%. *This trade setup is entirely dependent upon the price NOT breaking above this upper trendline. - TradingEdge
NASDAQ:SOXXShort
by Profit_Link
SOXX ShortSOXX is on the verge of a major breakdown, much like the one that lead to the melt down in Q4 of last year (followed by a ~20% drop after the trend break). However, we are not there yet because we are resting on support. The main, long term pattern we are looking at is a bearish rising wedge. Within the wedge we also have a symmetrical triangle which was entered from above, which suggests - as a continuation pattern - that price will follow lower. Keep in mind there is also another green trend line underneath which acts as a type of extra confirmation which must be broken for a definitive sell signal. A sell signal will be confirmed once we have a daily close below those trends, and especially if we have a weekly close below. Given how resilient this market has been, it would not be unreasonable for SOXX to put in a marginal new high first, thus extending the negative divergences on the PPO and RSI before the grand finale to the downside. Since we are very oversold on the 1-hour candlesticks and have positive divergences building on the market futures (ES and NQ), we can at least expect a small thrust up to the resistance shown as the double green lines above. Either way, once we crack below, there will without question be volatility, maybe even a back-test of the broken wedge pattern, but ultimately I can foresee SOXX going down to the second yellow uptrend shown below. The lower yellow uptrend is one of the two supports I have drawn from the November 2008 lows, following the Great Recession. Both have acted as support and resistance many times, thus showing that both are important levels that price will abide by. Such a move would equate roughly to a 25% drop, depending from which point we break down from. For this trade, we will be using SOXS, a triple levered inverse ETF of SOXX. I would avoid the use of put options since that involves gauging the time frame in which this move occurs which only adds even more difficulty to an already complex setup. A suggested stop loss would be anywhere just above the top of the daily candle which confirms the initial break down.
NASDAQ:SOXXShort
by BigMouse777
1