SOXL’s oversold rebound isn’t over yet, but at the current price of $54–55, the risk/reward isn’t particularly attractive on either the long or short side.
Next, I’m watching for two trading opportunities.
First: SOXL pulls back to $50–52, stabilizes, and then I go long again.
If this rebound does have staying power, I’d like to see buyers step in when the price pulls back.
In particular, SOXX, AMD, and SK Hynix should avoid further sharp declines, while SOXL starts to strengthen again.
Only then would I consider opening a new long position.
If it rises to $58, $60, or even $65, I’ll decide whether to take profits based on the market and price action at the time.
Second: SOXL continues climbing to $58–62, but clearly loses momentum.
That would be a shorting opportunity.
If the price repeatedly hits resistance after rising, then falls back below the breakout area, while the semiconductor sector as a whole starts to weaken, I’ll reassess short positions.
There may be intense trading before Nvidia’s earnings report.
Nvidia is scheduled to announce its earnings after the U.S. market closes on November 17.
I think this earnings report is especially important. It will be a key indicator after Jensen Huang’s affair.
That’s because the market’s central debate is no longer whether AI has a future, but whether AI infrastructure can continue growing at the pace previously expected.
If Nvidia delivers strong results and guidance again, it could further restore confidence in the semiconductor market.
Before the earnings report, SOXL may continue to fluctuate as expectations shift; after the report, the market may have a chance to choose a clearer direction.
At the current price of $54–55,
if you go long, you may encounter selling pressure around $57–58.
If you go short, buyers may step in again near $50.
The potential upside on either side isn’t particularly attractive.
Next, I’m watching for two trading opportunities.
First: SOXL pulls back to $50–52, stabilizes, and then I go long again.
If this rebound does have staying power, I’d like to see buyers step in when the price pulls back.
In particular, SOXX, AMD, and SK Hynix should avoid further sharp declines, while SOXL starts to strengthen again.
Only then would I consider opening a new long position.
If it rises to $58, $60, or even $65, I’ll decide whether to take profits based on the market and price action at the time.
Second: SOXL continues climbing to $58–62, but clearly loses momentum.
That would be a shorting opportunity.
If the price repeatedly hits resistance after rising, then falls back below the breakout area, while the semiconductor sector as a whole starts to weaken, I’ll reassess short positions.
There may be intense trading before Nvidia’s earnings report.
Nvidia is scheduled to announce its earnings after the U.S. market closes on November 17.
I think this earnings report is especially important. It will be a key indicator after Jensen Huang’s affair.
That’s because the market’s central debate is no longer whether AI has a future, but whether AI infrastructure can continue growing at the pace previously expected.
If Nvidia delivers strong results and guidance again, it could further restore confidence in the semiconductor market.
Before the earnings report, SOXL may continue to fluctuate as expectations shift; after the report, the market may have a chance to choose a clearer direction.
At the current price of $54–55,
if you go long, you may encounter selling pressure around $57–58.
If you go short, buyers may step in again near $50.
The potential upside on either side isn’t particularly attractive.