Volume Profile Analysis Notice how it experiences resistance and support according to the volume profile. Needs to cross the top resistance (in blue) for the potential of a rally. Otherwise it will be rejected quite hard downward.
SOXL trade ideas
Volume Profile Explains the recent horizontal channel$soxl $spy
Volume Profile Explains the recent horizontal channel
Could this be a long pattern we saw back in March?Could this be a long pattern we saw back in March?
SOXL: The retracement from $202 is too deep for this to bean impulse. $202 has to be a wave B of 2 top. Expect an A=C decline fow Wave C at $100. Wait for point 1 and 2 to be established to set up the down channel. We should have a fun time riding this down fast and furiously to $100. In between, there might be opportunities to play a countertrend bounce.
SOXL: This Monster of a stock is poised for a breather. Triple top, a perfect 1.618 wave 1 extension for wave 3, and touching the top of the channel.
Semiconductor strength will continue, target 208SOXL attempted a breakout above its channel and above April's highs, but got rejected and dropped back down to support at the 50-hour moving average. Here it's showing renewed strength, with volume turning green and candlesticks looking bullish. I think it will make another run at 202, this time pushing through to previous highs around 208.
SOXL has strong upward catalysts in the form of strong earnings and guidance this quarter. MU got an earnings beat earlier this quarter, and its recent ascending triangle break suggests it may rise to 51.50, for $4 per share upside. (However, MU is 5% overvalued compared to its average analyst price target of $45 per share.) We've just had earnings beats from Taiwan Semiconductor, Texas Instruments, and Intel that imply the sector is recovering in the second half of the year. TSM has 17.5% upside to the average analyst price target! Intel-- SOXL's largest holding-- can still gain $2.50 per share before it reaches the average analyst price target. QCOM, another large holding, has 12.5% upside to the average analyst price target, with earnings coming up tomorrow. A beat by QCOM could trigger the run up through the 202 resistance level.
As always, this is just an idea about how the market will move, not investment advice.
SOXL: After much analysis and consulting with some EW gurus,I am down to two counts, a preferred bullish count where wave 2 is set in stone and wave 3 in progress and a slightly more bearish count where wave B of 2 top just printed last week. The bullish count was a revision of an earlier count which calls for a wave 4 retracement of 38.2% to a target of about $165. In this case, the target is revised upwards to $183.84. Interested traders should monitor this price level carefully. If it holds, the bullish case is likely the winner. If it fails, then watch the next Fib levels of 50% and 61.8%.
The support for the bear count is that wave A (or 2) failed to reach Fib 61.8, and the subwaves of 3 (or B) are mostly 3 waves and hardly look impulsive at all. Also, it had faltered near the long term trend line and the top of the channel as well. Finally an A=C will bring SOXL to the Fib 61.8 retracement level for a wave 2.
Semiconductors entering risky resistance zoneSOXL has good buying volume today, but it looks a little risky moving forward. It's entering a resistance zone from previous highs, and it's got some bearish divergences on the hourly MACD.
Daily RSI is nearing overbought, and daily MACD is nearing resistance at 9. SOXL is still bullish within the channel, but look for a good entry and keep stop losses in place to guard against channel exit.
Semiconductors struggling this afternoon on bad China trade newsTech stocks took a dive this afternoon as the market absorbed today's bad news about the China trade war. Not only do headlines suggest that both Trump and China are taking hardline stances, but they also declare that tariffs won't cover the cost of the trade war and that Trump is making it hard for tech and retail firms to limit China exposure. This is particularly bad for semiconductors, and it also hit one of my top picks, online retailer Stitch Fix.
SOXL seems to be holding support so far, but watch out for a possible downward channel break.
Why I'm ignoring technical chart and buying SOXL after hoursTrading View's technical chart is flashing a sell signal for SOXL, but my proprietary algorithm is saying buy.
These indicators are flashing strong buy:
Slope of the Hull moving average
Previous day's change
Difference between 20-day exponential moving average and 20-day simple moving average
These indicators are flashing a weak sell:
20-day simple moving average slope
Distance from Hull moving average
This indicator is flashing a fairly strong sell:
*Distance from 20-day exponential moving average
My proprietary algorithm aside, there's also seasonality to consider. Today is a "bear day" according to the Stock Trader's Almanac, meaning that on this date the market historically has fallen more than 60% of the time. However, the next week and a half have historically been bullish. So historical patterns suggest that today's decline was an anomaly and that the market will rally tomorrow or Friday.
As always, this is just an idea about how the market may move, not investment advice.
293 they want but having some issues up here why?IWM XLF SOXl continue to lag, and yet spy new highs. They are gonna try .50 cut but that won't work need go to 0.
Price projection: Bear flag, target $42, low volumesBasically i would never go long now, would you?
Volatility, sell off, a bear flag, i don;t care if it goes 20-30% up, it is still a bear market.
Wait for price to drop to like 42 or something like that before accumilating..
Look for volumes, we need 2012,2013 to start selling their positions. That will be a clue when to get in.
Be mindful of fractal events, Looks like Jan 14 might the signal we need.
Good luck everyone ;)
**LEGENDS**
BLUE = Bear/Resistance
Yellow = Bull/ Support
~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~
/*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/
If you want your coin to be analyzed, JUST ask.
If you got a question, ASK away!
And please keep those Stop losses in place!
Fractal dates are moments of interest, where price and time collide to create oscillation - vertical lines!
Thank you,
Ajion
SOXL start buying, save some money for 80s if they comeSome levels of interest. Caught this falling out of the diamond pattern.
Inverse Head and shoulders formation for semicondutors ETFBackground: Bullish trend finished on resistance 171 price level. Tripled top on sept 27, 29, and oct 04 on RSI on 70, then channeling wide and volatile through 140-160 price levels.
First: SHOULDER formation oct 02 starting RSI 65, 160-114-128 price oscilation.
Second: HEAD formation oct 17 to nov 02 starting RSI 62, 128-84- 114 price oscilation.
Third: waiting on heavy resistance a second SHOULDER formation. Best escenario: 122-112-128 on 18 days; Mid Escenario: 116-10-128 on 22 days; Worst Escenario: 114-88-128 on 26 days.
Notes:
- wait consolidation correction of this bull trend to complete de H&S patterb formation
- we need to see another bottom for the escenarions on November 12-15
- critical eventes: NVDA earnins 11-15-2018 (This will mark any movement)
Buy 110 support maybe and/ or Buy at 85$ rangeIf $110 doesnt hold then "the bubble of everything has popped" And buy at 84$
Short then long, or average in a position.Semi conductors are not going anywhere, they just completed a huge run. Fell out of the wedge and I dont see this going below 80$ ever but I see it testing a couple spots below and breaking north .
