When (SOXX) Moves Investors should Listen

May 08, 2024, 17:32 pm ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SOXX

• Buy SOXX slightly over 216.38 target 235.38 stop loss @ 215.76 Details

The technical summary data tells us to buy SOXX near 216.38 with an upside target of 235.38. This data also tells us to set a stop loss @ 215.76 to protect against excessive loss in case the stock begins to move against the trade. 216.38 is the first level of support below 218.92 , and by rule, any test of support is a buy signal. In this case, support 216.38 is being tested, a buy signal would exist.

• Short SOXX slightly under 235.38, target 216.38, stop loss @ 236.06 Details

The technical summary data is suggesting a short of SOXX as it gets near 235.38 with a downside target of 216.38. We should have a stop loss in place at 236.06though. 235.38 is the first level of resistance above 218.92, and by rule, any test of resistance is a short signal. In this case, if resistance 235.38 is being tested, a short signal would exist.

Swing Trading Plans for SOXX

• Buy SOXX slightly over 224.35, target 235.38, Stop Loss @ 223.7 Details

If 224.35 begins to break higher, the technical summary data tells us to buy SOXX just slightly over 224.35, with an upside target of 235.38. The data also tells us to set a stop loss @ 223.7 in case the stock turns against the trade. 224.35 is the first level of resistance above 218.92, and by rule, any break above resistance is a buy signal. In this case, 224.35, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SOXX slightly near 224.35, target 216.38, Stop Loss @ 225. Details

The technical summary data is suggesting a short of SOXX if it tests 224.35 with a downside target of 216.38. We should have a stop loss in place at 225 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 224.35, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SOXX

• Buy SOXX slightly over 221.18, target 224.35, Stop Loss @ 220.66 Details

If 221.18 begins to break higher, the technical summary data tells us to buy SOXX just slightly over 221.18, with an upside target of 224.35. The data also tells us to set a stop loss @ 220.66 in case the stock turns against the trade. 221.18 is the first level of resistance above 218.92, and by rule, any break above resistance is a buy signal. In this case, 221.18, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SOXX slightly near 221.18, target 216.38, Stop Loss @ 221.7. Details

The technical summary data is suggesting a short of SOXX if it tests 221.18 with a downside target of 216.38. We should have a stop loss in place at 221.7 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 221.18, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Ishares Phlx Sox Semiconductor Sector Index Fund (SOXX) available here: SOXX.

SOXX Ratings for May 08:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	198.17
P2	221.18	215.27	216.38
P3	224.78	224.35	235.38

AI Generated Signals for SOXX

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Ishares Phlx Sox Semiconductor Sector Index Fund (NASDAQ: SOXX) report below is a real world example. Included are trading plans for SOXX, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.