$SOXLB has fallen 35.49% in the last seven days, now trading at $66.49. This significant drop puts it 39.06% below its 7-day high of $109.11. The current price is very close to its 7-day low of $65.43.
My view remains bearish. Despite an RSI of 33.9, suggesting oversold conditions, the selling pressure continues. Volume is at 0.95 times its 7-day average, which means it is not significantly high to indicate a capitulation bounce. $BTC is also down 1.19% in the last 24 hours, adding to the general market caution.
I would change my view if $SOXLB could sustain a move back above $75 with increasing volume. Until then, I am watching to see if the 7-day low of $65.43 provides any support.
#SOXLB #MarketWatch
My view remains bearish. Despite an RSI of 33.9, suggesting oversold conditions, the selling pressure continues. Volume is at 0.95 times its 7-day average, which means it is not significantly high to indicate a capitulation bounce. $BTC is also down 1.19% in the last 24 hours, adding to the general market caution.
I would change my view if $SOXLB could sustain a move back above $75 with increasing volume. Until then, I am watching to see if the 7-day low of $65.43 provides any support.
#SOXLB #MarketWatch
