$SOXX - Head & Shoulders Setting UpFirst Fib - December 26, 2018 Lows to April 24, 2019 Highs
Second Fib - April 24, 2019 Highs to May 29, 2919 Lows
We can see a very clear neckline @ approx. $174.94. Assuming the width of the shoulders are perfectly symmetrical, we could see a break of the neckline within 28 days, however, Powell's rate cut decision will either accelerate/nullify this process..
SOXX
amd winding up like a spring?$amd $soxx $soxl $soxs $nvda
I'd love to see AMD back at 9.70-9.90 for the ride back up. Has been a beautiful symmetrical/descending triangle. If it breaks out above in coming weeks/months, expect the price up to 17-19.. before descent back to test breakout level of sym. triangle.
Lam Research - Earnings trifecta but stock down?Lam Research (LRCX) delivered strongly in their Q4 earnings report, but the stock has since tumbled almost 10%.
The market for semiconductors is not going anywhere...
Target: give it to your grandchildren, or at least until processors using silicon fall out of favor.
SOXX and SOXL are also good ways to get some exposure to LRCX and the semiconductor market.