$SOXLB 5-minute decline of 3.26%, current price 41.79. Next, there are two possible scenarios:
① It stabilizes and moves back above the breakdown level → this move looks more like a shakeout
② It fails to reclaim that level on the rebound and falls below the 24h low of 41.32 → the downtrend is likely to continue
I’d wait to see how the first rebound performs before drawing a conclusion. Would you follow or wait?
#SOXLB
For reference only. Make your own decisions.
① It stabilizes and moves back above the breakdown level → this move looks more like a shakeout
② It fails to reclaim that level on the rebound and falls below the 24h low of 41.32 → the downtrend is likely to continue
I’d wait to see how the first rebound performs before drawing a conclusion. Would you follow or wait?
#SOXLB
For reference only. Make your own decisions.