I just said it had risen too sharply to touch, but after another look, I’ve changed my mind a little—not looking to chase it, but this level is worth drawing a line at and watching. $SOXLB is quoted at 45.74, up 13.41% in a day, with a 24-hour high of 49.70 and a low of 39.91. The 14-day RSI is only 30.8, meaning it has just bounced off a low.
I understand how holders must feel right now: sure, it’s up, but after falling for 14 straight days, no one can say for certain that this is a reversal. My take is to watch, not chase, and wait for it to choose a direction.
Direction: Watch for a long. Reference range: 44.80–49.70. Invalidation level: if it drops below 44.80, I’m out. Target: 49.70. Risk level: high. Risk-reward ratio: about 4.2.
With that risk-reward ratio, would you take a shot—or would you rather miss out?
For reference only; not investment advice. Please manage your position size.
I understand how holders must feel right now: sure, it’s up, but after falling for 14 straight days, no one can say for certain that this is a reversal. My take is to watch, not chase, and wait for it to choose a direction.
Direction: Watch for a long. Reference range: 44.80–49.70. Invalidation level: if it drops below 44.80, I’m out. Target: 49.70. Risk level: high. Risk-reward ratio: about 4.2.
With that risk-reward ratio, would you take a shot—or would you rather miss out?
For reference only; not investment advice. Please manage your position size.