SOXL price prediction for 12/25/21SOXL has been ranage bound for several weeks now and is loosing momentum. BASED on fibonacci trend regresion and prior lines of support and resistance I predict that SOXL will drop out of it's current range and bounce at 46.02 +- This level was it's prior resistance.
SOXL trade ideas
Chip shortage? SOXL will be a winner in 2022Hello all,
SOXL was good to me but I have since sold off as I see weakness in the market. I believe chip production will increase in 2022 as everything needs chips in them with the technology sector increasing at an exponential rate and crypto becoming a big deal.
The MACD has crossed and going into a down trend. The stock would have snapped the 20day ema today but MRVL held the stock nicely. Once the stock goes below the bottleneck there will be no support until 44, see the VPVR. It also looks like it will go back to the trend. The blue trend is the strongest going back to the march 2020 crash and the white like is the march 2021 trend. Buy the dip once it falls 44 and more at 40.
I will confirm once I get back in.
soxl - 12-02-2021Pull back to 51.58
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SOXL up date Consolidation respected. This is headed back to 27$ long term. The drop was temporarily interrupted by minor trend support (Whiteline). I think we might se a minor bump back up to 44.80 with NVDA earnings on the 19th c then a tank right after that. I also drew previous lines to show similarities
SOXL At a crossroadAlmost at the top of consolidation. What happens next could very well influence not just the chip sector but The QQQ index too
Noticable Names inside this ETF
INTC
AVGO
NVIDIA
AMD
TSM
Qcom
I wouldnt be convinced with a breakout unless we get over previous highs around 48$
2 reasons im not convinced of a breakout coming this week
1. The volume! we are carrying 40% less volume than we were back in the spring when chip shortage news started widely circulating.
2. Most of the biggest weighted chip makers have already had their earnings and with it i dont expect any new highs from NVDA, INTC or Qcom.
SOXL in consolidation phaseNo rush, first of all when you look at this chart !
Price is ranging between 27 and 44 since Jan 2021.
Wait for the price to come down to 27 , ascertain support with bullish signal before adding or await for it to break out of 44 level at resistance before adding. It could also have another down leg once it reaches the resistance level so be careful and not rush to buy before the breakout to avoid being trapped.
$SOXL - semiconductors Bull 3x gonna explode soon $SOXL #SOXLAs we expect the boom in the sector in the upcoming years related to the worldwide shortage of semiconductors I thought it could be a good idea to buy this ETF instead of specific stocks. This way I can track what's going on in the industry and stay with the position without the need to rebalance all the time.
Keep in mind:
1) NVDA (which is 7% of ETF) will have a split in June (typically bullish)
2) AMAT, LRCX - other strong companies of the sector are on the edge of a breakout
3) Technicals are strong, above all SMAs except 20 (this gonna happen soon as well)
4) Crazy runners like LEDS also related to semiconductors
SOXL review. HAMMER OF THOR At this rate, it can be seen that the probability of a decline is much higher. Tomorrow may show a slight rise. But it looks like it will go down soon. Waveforms fall to rise and rise to descend. Don't be fooled by this.
Well, it could be different if you break through the place where the hammer used to be. keep updating.