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SOXX trade ideas

Trend lines to watch on SOXXSOXX is near its first buy level at the upper blue trend line. I am taking a small position here, and I will triple the position if it reaches the lower blue trend line. SOXX is a great investment to buy and hold for the long term, having pretty consistently outperformed the S&P 500. However, coronavirus is a real concern, because semiconductor companies sell a lot to China and the virus is disrupting that trade. I think there's a good chance this will drop to at least the second trend line.
NASDAQ:SOXXLong
by ChristopherCarrollSmith
SOXX looks strong ahead of Phase 1 trade dealSOXX got a little out of hand last year, surging to new highs despite a minor earnings recession in the sector. However, the dividend yield has continued to improve over that period, and the outlook for the sector has fundamentally improved in 2020. According to FactSet, "At the industry level, the Semiconductors & Semiconductor Equipment industry has the highest number of companies issuing positive EPS guidance," with eight companies having issued guidance above Street expectations. That means that despite the fairly high multiple at which the sector trades, positive sentiment is only increasing early in the year. It's worth buying a small stake in this ahead of the scheduled signing of a Phase 1 trade deal Wednesday, and a larger stake if and when the price dips to any significant degree.
NASDAQ:SOXXLong
by ChristopherCarrollSmith
SOXX - Further Weakness - Short Setup Semi-conductors are looking a bit precarious at this point, as you can see we appear to be in a serious of lower lows and lower highs, this is compounded by the falling momentum in the market as a whole. This coupled with overall weak internals lead me to believe that further weakness is not out of the question, particularly if the price action is unable to break above the upper descending trendline. Should the price fail at the upper trend, then a visit to the 55 ema or even the 89 ema is quite likely. This would constitute a move lower of up to 5%. *This trade setup is entirely dependent upon the price NOT breaking above this upper trendline. - TradingEdge
NASDAQ:SOXXShort
by Profit_Link
Semiconductors bounced downward from top of parallel channelSOXX has been making two parallel channels, and the other day it bounced off the top of the blue one. It's still within the green channel, however, so it's approaching a decision point soon where it will have to choose one or the other. If the fall continues, there could be a good buying opportunity near the bottom of the green channel and an even better buying opportunity near the bottom of the blue one. SOXX and its leveraged counterpart SOXL are my favorite trading instruments, so you best believe I'm going to be watching this closely.
NASDAQ:SOXXLong
by ChristopherCarrollSmith
SOXX ShortSOXX is on the verge of a major breakdown, much like the one that lead to the melt down in Q4 of last year (followed by a ~20% drop after the trend break). However, we are not there yet because we are resting on support. The main, long term pattern we are looking at is a bearish rising wedge. Within the wedge we also have a symmetrical triangle which was entered from above, which suggests - as a continuation pattern - that price will follow lower. Keep in mind there is also another green trend line underneath which acts as a type of extra confirmation which must be broken for a definitive sell signal. A sell signal will be confirmed once we have a daily close below those trends, and especially if we have a weekly close below. Given how resilient this market has been, it would not be unreasonable for SOXX to put in a marginal new high first, thus extending the negative divergences on the PPO and RSI before the grand finale to the downside. Since we are very oversold on the 1-hour candlesticks and have positive divergences building on the market futures (ES and NQ), we can at least expect a small thrust up to the resistance shown as the double green lines above. Either way, once we crack below, there will without question be volatility, maybe even a back-test of the broken wedge pattern, but ultimately I can foresee SOXX going down to the second yellow uptrend shown below. The lower yellow uptrend is one of the two supports I have drawn from the November 2008 lows, following the Great Recession. Both have acted as support and resistance many times, thus showing that both are important levels that price will abide by. Such a move would equate roughly to a 25% drop, depending from which point we break down from. For this trade, we will be using SOXS, a triple levered inverse ETF of SOXX. I would avoid the use of put options since that involves gauging the time frame in which this move occurs which only adds even more difficulty to an already complex setup. A suggested stop loss would be anywhere just above the top of the daily candle which confirms the initial break down.
NASDAQ:SOXXShort
by BigMouse777
1
A partial war-trade deal? / Semiconductors +Trump has said many times before, he did not want a "partial" trade deal. There seems to be real volume and buying, sending the whole market to highs. There is a possibility that this "partial deal" is just a delay of tariffs (october 15th, and December?) and buying of agricultural products (soybeam, pork). Which we have seen before, unfortunately, to mean nothing. ------ Have a great long weekend. Trading starts Tuesday because of Columbus day on Monday 14th.
NASDAQ:SOXX
by dorfmanmaster
Semiconductors need ascending triangle break to continueThe ascending triangle is one of my favorite chart patterns. To confirm a breakout, we need to enter the corner of the triangle and then break above the previous high that forms the top of the triangle. A confirmed breakout usually results in a move about half the height of the triangle, or about $9 per share in this case. One nice thing about this chart pattern is that it allows for a fairly tight stop loss. If we breach that lower trendline, the pattern is broken and we can exit quickly.
NASDAQ:SOXXLong
by ChristopherCarrollSmith
Buy and hold these sectors to outperform the S&PThey say it's really hard to beat the S&P 500. I really don't think so. This chart doesn't show the performance of the semiconductor sector. It shows the *difference* between the semiconductor sector's performance and the performance of the S&P 500. This sector has consistently outperformed, even this year, when the sector faced major headwinds from flagging demand and the China trade war. With trade talks in the works and AI research booming, there's no end in sight to the semiconductor boom. Another sector that has blown away the S&P 500 is the software sector. Again, AI is booming, and the software sector is principally responsible for developing it. Plus, as we become more and more dependent on technology, this sector is responsible for creating the interfaces between ourselves and our devices. I anticipate no end to this sector's outperformance. Another long-time winner against the S&P is the aerospace sector. With an increasingly interconnected world, air travel should continue to be important. There's some possibility here that the industry will be disrupted by ground/sea transport alternatives like the hyperloop, but that's just a pipe dream at the moment. Aerial supremacy also remains central to modern warfare, and should remain so for the foreseeable future. And then there's the final frontier: space travel. The private sector has taken an increasing interest in launching satellites and spaceships, and the space travel boom should continue to grow unless it runs up against the Kessler Syndrome. Worthy of honorable mention is the healthcare sector. In my opinion, this sector has outperformed mostly due to a kind of inefficiency bubble. If the sector became notably more efficient-- either by cutting out middlemen and administrators or by implementing a more transparent pricing system-- it could experience a significant contraction. In some ways that's already happening, with the advent of teledocs and discount health clinics. There also remains a lot of political risk here. Republicans want to repeal more of the ACA, which could shrink the insurance market, and Democrats want to impose price controls and abolish private insurance altogether. P.S. To see how any equity's performance compares to the S&P 500, put "/SPY" after the ticker.
NASDAQ:SOXXEducation
by ChristopherCarrollSmith
4
Trade-war relief - July 2019Trump and Xi Ping have come to a tariff truce at G-20 this weekend. Trump is now using Huawei (previously blacklisted, banned, etc.) as a bargaining chip, allowing TEMPORARILY, U.S. companies to continue doing business with China's Huawei. Here is a list of Top 20 U.S. based Huawei suppliers . I believe most of them will rally this month (July 2019). - Percentage number next to stock symbol is the revenue exposure to Huawei Intel (INTC) - 1% Advanced Micro Device (AMD) - 2% Broadcom (AVGO) - 6% Qualcomm (QCOM) - 5% Microsoft (MSFT) Nvidia (NVDA) CommScope (COMM) - 2% Texas Instruments (TXN) Seagate Technology (STX) - 4% Micron Technology (MU) - 2% Qorvo (QRVO) - 11% Flex (FLEX) - 5% Skyworks (SWKS) - 6% Corning (GLW) - 2% Analog Devices (ADI) - 3% NeoPhotonics (NPTN) - 47% Western Digital (WDC) Lumentum (LITE) - 11% II-VI (IIVI) - 8% Finisar (FNSR) - 8% Maxim Integrated (MXIM) - 4% Keysight Technology (KEYS) - 2% Marvell Technology (MRVL) - 1% Note: Trump can go back on the Huawei deal at any time.
NASDAQ:SOXXLong
by dorfmanmaster
1