SHORT SEMICONDUCTORS ON NEWS- SOXS
SOXS
Semiconductors have been giving some cautious guidance suggesting a market downturn,
supply chain issues and the recession fears. Vehcicles are being shipped to dealers lacking
some "chips" ; in the meanwhile, the CHIP acts hopes to stabilize things.
SOXS a ETF shorting the semiconductor industry #X leverage as the inverse of SOXL
The 4H chart of SOXS shows an EMA ribbon divergence, a market low with a Double or
Triple Bottom and an Asymmetrical Inverse Head and Shoulders with a neckline trendline
Marking a breakout just above the current market price.
This appears to be a good swing long trade setup or call option entry ripe for the taking.