SOXL price prediction for 2/1/2022
We all know you cannot predict the market, but here's my opinion for this Semiconductor ETF by February 1, 2022.
I base this prediction on the continued exodus from risk assets because of the likely FOUR rate hikes this year. I see NO support levels between our current price and the prior highs of 45+- There are two trend lines that would intersect at this level by February 1. I think a trend change could occur at one of the next two Fed Reserve meetings; January 25,26 or March 15,16.
Just my opinion, but I think Semi's will continue to lead the market as a whole, so get ready to buy in hard once we get some support.
I base this prediction on the continued exodus from risk assets because of the likely FOUR rate hikes this year. I see NO support levels between our current price and the prior highs of 45+- There are two trend lines that would intersect at this level by February 1. I think a trend change could occur at one of the next two Fed Reserve meetings; January 25,26 or March 15,16.
Just my opinion, but I think Semi's will continue to lead the market as a whole, so get ready to buy in hard once we get some support.
Nota
64.02 Is a 50% retracement of the recent downtrend.Was this just a short covering rally in a longer bearish downtrend?
In full disclosure I am still short, but have lost some money today, I think we will see this rally stop near 64 and reverse to the downside. If it rallies past 64 I'll switch over to bullish.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.