SOXS Stock Chart Fibonacci Analysis 051623Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 19.3/61.80%
SOXS trade ideas
A possible scenario for SOXS, short term vs long term!On April 3rd, I published this:
Stop loss updated to entry after 10% profit:
Primary target reached in 22 days:
Now we have another possibility and we should manage accordingly!
SOXS Stock Chart Fibonacci Analysis 041823 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 19/61.80%
SOXS Stock Chart Fibonacci Analysis 041523Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 19.1/61.80%
i will long from this price targets no leverage no stop losei will long from this price targets no leverage no stop lose
SOXS Stock Chart Fibonacci Analysis 0306231) Find a FIBO Slingshot
2) Check FIBO 61.80% level
3) Entry Point > 20.8/61.80%
Bottom FishingAll time low.
Hard to believe considering the market is basically in an overall downtrend.
Risky due to lack of support underneath other than 18.41 so if one were to chance it, a stop underneath this low may or may not work depending.
Leveraged and will move when semiconductors stop moving up.
No recommendation.
Direxion Shares ETF Trust - Direxion Daily Semiconductor Bear 3X Shares is an exchange traded fund launched by Direxion Investments. It is managed by Rafferty Asset Management, LLC. It invests in public equity markets of the United States. It invests through derivatives and through other funds in stocks of companies operating across information technology, semiconductors and semiconductor equipment sectors. It employs short strategy and uses derivatives such as futures, swaps to create its portfolio. The fund invests in growth and value stocks of companies across diversified market capitalization. The fund seeks to track -3x the daily performance of the PHLX Semiconductor Sector Index. Direxion Shares ETF Trust - Direxion Daily Semiconductor Bear 3X Shares was formed on March 11, 2010 and is domiciled in the United States.
The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the ICE Semiconductor Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index is a rules-based, modified float-adjusted market capitalization-weighted index that tracks the performance of the thirty largest U.S. listed semiconductor companies. The fund is non-diversified. Benchmark: ICE Semiconductor TR USD
geez. long semis much?its been a hell of a couple weeks for the semiconductor stocks. weve blown through resistance with a vengence, and pretty much havent stopped for anything. the problem is the rest of the stock market hasnt responded with the same bullishness. just like i was in soxl coming off the top of the channel, im now in soxs coming off the bottom of the channel.
SOXS Descending WedgeMonitor for a breakout of the descending wedge. An impulse to the $33 range should follow with a bullish breakout.
(I am watching 1H MA50 also).
Good Luck
Symmetrical TriangleNeutral pattern.
If you wish to go long, maybe place a stop below bottom trendline and vice versa.
No recommendation/Price is at support. Possible inverted hammer.
this thing is about to smash the market into little tiny piecesarent we all glad we reinvested early in semiconductors? i sure am. the short semiconductor etf is going completely insane. expect that to continue. if you look at the 5 minute you can see we are poised for breakout. we will probably go outside upper envelope, swing back to value area low before moving higher. i dont see anything thats going to stop the total collapse of the semiconductor industry as we know it, do you?
Soxs is the ticket out of povertyDefended support, on high volume, trendline support,
Capitulation already took place, inverse head and shoulders break, semis are overpriced and garbage again after 40% rally. Come with me as we milk this one last time into vix 45
If this market keeps going up slowly or continues consolidating I will keep adding
3month and 10 year yields are inverted like hell and people are buying 2000 pe stocks into a recession god help us all
The fact that Bitcoin still has buyers sickens me
SOXS Channel, 4th Bounce? SOXS is getting ready where, 3 other times this year, has bounced to great gains all above $62, double move.
Watch for reaction in the next few days.
it looks like semiconductors are busti imagine this down move in semiconductors is going to push mich lower, and soxs is a long at these levels into the upper 70s. the signal moving average is green on this inverse.
$SOXS 3 peaks Domed HouseSuch a great specimen combining an entire market cycle into one chart.
3 peaks Domed House - Distribution / Reaccumulation / Upthrust double top
The entire market cycle also forms a nice Bullish cypher before the return up to where we are now.
Clear accumulation beneath our inflection zone, adam & eve style double bottom
BTC finished this 3 peaks domed house pattern in November and Spy did on the Weekly back in the 2000s before one of the greatest bull markets in history.
For comparison, BTC would now be in the reaccumulation phase under the Basement zone (last july was our basement)
I posted a chart representing this pattern in December, and it played out quite nicely
Time to take profits from SOXSTop of keltner channel(overbought)
Bearish divergence on 5 and 15min
lower volume today
Now above volume profile large block
powell speaking tommorow
high risk low reward to hold
Bullish SharkBullish Alternate Shark and the 4th leg ended at the 1.113 versus the .886.
No recommendation.
Best to buy on UP market days.
Leveraged x 3.
Fees can be high and not intended for a long term hold.
SOXS at support for LONG SWING SETUPAMEX:SOXS
Reports are the semiconductor secotr is presently challenged with rising costs
and lower production orders.
SOXS is in a flat bottom triangle with price now at its base.
The RSI Oscillator is in mid-range suggesting price has upside.
The relative volume has been increased in the past two weeks.
I see this as a swing long setup with the target 30-40& above
the current market price in the mid-Fibonacci retracement range.
SHORT SEMICONDUCTORS ON NEWS- SOXSAMEX:SOXS
Semiconductors have been giving some cautious guidance suggesting a market downturn,
supply chain issues and the recession fears. Vehcicles are being shipped to dealers lacking
some "chips" ; in the meanwhile, the CHIP acts hopes to stabilize things.
SOXS a ETF shorting the semiconductor industry #X leverage as the inverse of SOXL
The 4H chart of SOXS shows an EMA ribbon divergence, a market low with a Double or
Triple Bottom and an Asymmetrical Inverse Head and Shoulders with a neckline trendline
Marking a breakout just above the current market price.
This appears to be a good swing long trade setup or call option entry ripe for the taking.
Short term trend for SOXS landing into Sep 23, 2022.Short term trend for SOXS landing into Sep 23, 2022.
SOXS to SOXL ratio DAILY CHARTAMEX:SOXL
This chart strives to setup a trading plan where the SOXS and SOXL
are oscillated. They are 3X leveraged ETFs with great range.
SOXS was up 400% YTD at its peak. The new CHIPS
ACT is a catalyst for US semiconductor manufactures
Right now the ratio is on a downtrend, meaning Sell SOXS
or BUY SOXL or a combination of each.
I believe that this strategy could yield 5X annually
to investors or long-term swing traders with little effort
especially if an alert is employed to notify the ratio
is changing trend direction at a pivot.
The timeframe could be lower but then the number
of trades is likely to increase as is the amount
of profit. This could be backtested by those
familiar with the mechanics of doing so.
