$SOXLB posted a strong 16.43% gain today, trading at $65.62. This move comes with elevated volume, 1.534 times its 7-day average. The 14-hour RSI is 59.2, suggesting potential for further upward momentum.
My view is cautiously bullish. While $SOXLB is still 5.867% below its 7-day high of $69.71, the 7-day change is now positive at 0.3671%. A sustained break above the $69.71 level would confirm a stronger upward trend. Failing to break this resistance, especially on decreasing volume, would change my view to neutral.
I am watching for continued conviction with volume as it approaches the weekly high.
#SOXLB #Semiconductors
My view is cautiously bullish. While $SOXLB is still 5.867% below its 7-day high of $69.71, the 7-day change is now positive at 0.3671%. A sustained break above the $69.71 level would confirm a stronger upward trend. Failing to break this resistance, especially on decreasing volume, would change my view to neutral.
I am watching for continued conviction with volume as it approaches the weekly high.
#SOXLB #Semiconductors
