Honestly, I didn’t really understand this 13.2% drop in $SOXLB in a single day, so I can only lay out the data and let everyone think it over together. It’s trading at 55.88, just a step away from the 24-hour low of 52.43. The high of 66.91 already feels a long way off.
The most nerve-racking thing about this level is that there’s not much of a cushion below it—if 52.43 breaks, it’ll be a new low. Those holding it may be afraid to add in case they’re buying halfway down, but also afraid to sell in case it’s the very bottom. The drop has been sharp and relentless. It’s definitely oversold in the short term, but being oversold doesn’t mean the decline is over.
I could be wrong, but I’d rather wait and see if it can stabilize around 52.43. Trying to catch a rebound here and getting it wrong could mean an immediate break to a new low. But if it can reclaim 66.91, I’ll change my mind right away and admit this was just a recovery after becoming oversold.
If it can’t hold 52.43, how much more room do you think it has to fall?
$SOXLB
#行情分析 #UnusualMove
The most nerve-racking thing about this level is that there’s not much of a cushion below it—if 52.43 breaks, it’ll be a new low. Those holding it may be afraid to add in case they’re buying halfway down, but also afraid to sell in case it’s the very bottom. The drop has been sharp and relentless. It’s definitely oversold in the short term, but being oversold doesn’t mean the decline is over.
I could be wrong, but I’d rather wait and see if it can stabilize around 52.43. Trying to catch a rebound here and getting it wrong could mean an immediate break to a new low. But if it can reclaim 66.91, I’ll change my mind right away and admit this was just a recovery after becoming oversold.
If it can’t hold 52.43, how much more room do you think it has to fall?
$SOXLB
#行情分析 #UnusualMove