IShares PHLX SOX Semiconductor Sector Index Fund (SOXX) : Short Sell @ $5292

Trading Central
updated | Author's Website

CONSOLIDATION EXPECTED

From a technical view, the ETF is approaching its bearish gap opened on September 24th and a tentative bearish trend line.



Regarding technical indicators, the daily RSI is facing a strong resistance area while intraday technical indicators are well overbought now.



On a relative basis against the IVV S&P500, the iShares PHLX SOX Semiconductor Sector Index Fund is challenging a key declining trend line and looks set for a consolidation.



Trading strategy:

Short Sell @ $52.92 – Stop loss @ $53.95 – Target @ $47.75

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