$SOXL
Added 2024-04-19 19:15:16 +0000 UTCSemi bubble appears to be bursting and it is lead by the biggest bubbles over the last year from $NVDA and $SMCI.
This is a 3 X leveraged position too, which is evident from all the panic requests I get for this chart.
If you play with leverage, you need to be prepared for the violent moves
Going bullish leveraged when a market is correcting is not the right move to make.
My charts can only show the current set up, they can break down with an entire sector corrects and this sector was bubbling for some time.
The price is at the 0.618 fib right now at $30.50, it is likely to hold here into the close so a relief bounce can come next and the 200 Day MA is just below for further support but any loss of the 200 Day MA and this is collapsing.
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David Martin
2024-06-17 21:19:19 +0000 UTC
