SOXL trade ideas
Long on SOXlAnother nice move, uptrend in the daily chart. We do have a correction. The oversold signals the entry. Stop 5% below our entry, target in the last five high.
Semiconductors quick analysis on LETFI don't like doing TA on leveraged ETFs generally, but you can get a good idea of what's going on. Using SMH for semis would be better, if I were using fib ratios I'd definitely use an unleveraged product for charting.
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potential reversal area, might be able to squeeze another 7% out of the current rally, would wait to go long on a 100/200DMA break.
Also could be a nice SOXS short if we break down out of the reversal area.
