SOXS trade ideas
SOXS, say hello to bull right here. EACH FIB TARGET PRICE .
If soxs rides the uptrend like this, (soxl is down), there are 3 expected levels. Among them, the highest level price is expected to be 9.4$. This is about 15% profit.
Long | SOXS | 5 Star opportunityAMEX:SOXS
Possible Scenario: LONG
Evidence: Price Action
TP1~ 11$,
Call options, Strike 11$, 06/18/21
Call options, Strike 12$, 06/18/21
* I'm not a financial advisor and it could be wrong 100%.
Buy $SOXS - NRPicks 09 Abr$ SOXS is an index that seeks daily investment results, before fees and expenses, of 300% of the inverse performance (or opposite) of the daily performance of the Semiconductor Industry Index.
Semiconductors are currently at all-time highs, so a correction in the rally is very likely which could be exploited in a good way with a leveraged inverse ETF such as $ SOXS.
- RSI Oversold
- Price below MA50 and 200
- Key level at $ 8.10
SOX: Semiconductors may experience sell off soonWhile most people consider the semiconductor shortage to be bullish for semiconductor stocks I believe there is a serious case for a bear scenario. With the supply chain this heavily disrupted it is possible that while margin will be high on individual sales the number of sales is lower considering the variance in the types of semiconductors that need to be purchased for different products as well as the increased competition that is going to exist between Semiconductor Manufacturers. To profit off of this thesis I will be purchasing SOXS Periodically until I believe the move may complete. I am viewing this as an ABC correction on SOX. High valuations need to be supported by revenue and next earnings will betray the earlier semiconductor stock boom that was spurred on by Covid.
3x inverse funds as a contrarian indicator3x inverse ETFs let you use leverage to bet against stocks. This chart shows the 14-day Money Flow Indicator (MFI 14) on a 3x inverse semiconductor fund (SOXS). SOXS is an inverse leveraged bet on the SOXX semiconductor ETF, which is also shown on the chart.
Interestingly, the flow of money into and out of SOXS has often been a contrarian indicator of where SOXX is headed. SOXS gets big inflows just as SOXX hits bottom. It gets big outflows just as SOXX hits top. If you do the opposite of whatever SOXS traders are doing, you can do pretty well.
SOXS made a peak on Friday that may imply that SOXX has bottomed and will begin to move up. Short SOXS or long SOXX would be the play here.
Semiconductors Short (SOXS)Semiconductors short (SOXS) has been in a very narrow pinching channel for a while and has stayed remarkably precise for a leveraged ETF. Please watch for a buy signal when it breaks out (d'uh). Easy money as far as I'm concerned.
Semiconductors breaking downThat market is absolutely littered with declining wedges (UGAZ, LABD, SOXS, TMF to name a few)!! I thought this was the tastiest and look like it will turn a corner early in trading and begin trading down. I hope everyone shorted gold miners and closed today because they're turning up tomorrow!
Semi-conductors Are Looking Kind of Short (SOXS)Large descending triangle emerging in semi-conductors (SOXS)/technology (TECS)/biotech (LABD) which is a very worrying development. I've shown my favourite one but please check out the others. News has emerged that Trump wants to blacklist Chinese businesses in response to the Hong Kong protests.
Semiconductor stocks may plunge due to the trade warEver since the march dump, the SPY has recovered while the semiconductor stocks have made significant gains. Some of them are also approaching all time highs.
The US ban on TSMC manufacturing for Huawei will be a major problem.
TSMC is the leading manufacturing for the most advanced chips and if china does not get access to it, it will cause a domino effect.
Huawei supplies a variety of electronics to large companies and countries including next generation 5G base stations.
China is also the largest market for chips ( sold by the biggest US companies). Now if china retaliates with restrictions imposed on US companies to sell semiconductors in china it will have a massive impact.
The race for 5G supremacy & Space dominance will cause more of these tit-for-tat moves from either side.
Technicals:
Weekly RSI coming out of oversold regions.
Large volumes being traded indicating high interest among traders.
MACD in bearish territory still but looks like it is trending towards bullish. Will have to watch these indicators closely.
This is a short term trade.
Note:
This is not financial advise. Please do your own research.
SOXS Round upSOXS is showing the beginnings of a rounding upward pattern. This can move as high as 24 level, with some minor resistance along the way.
SOXS bullishBullish Signals:
RSI Buy Signal
Stochastics Buy Signal
MACD Buy signal and Bullish Divergence
Also when using Fib the 61.8% lines up pretty good with the previous peak.
Lastly there has been increasing volume
Freed from under the wedge?Could the tip of this descending wedge (the mirror of what is currently showing in the S&P with its rising wedge also about to terminate) be like a balloon that was being kept forced down underwater suddenly being set free with nothing above to keep it down until it hits the surface up above, wherever that may be?
Or will Trump or the Fed somehow pop that balloon?
Lets wait to see what starts to happen at the edge of the wedge... something's gotta give one way or the other.
See this as a related idea:
SOXS - possible break out.Semi-sector is under pressure
Break up above and close above neckline is very bullish .
Crazy how that works huh?Price tested out of reversal pennant and skyrocketed, then backtested and bounced again. Out and waiting to get in on the next backrest... if there is one
