$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ is setting up for a potential breakout. Price is at $34.44 with above average volume. Renewed chip export restriction fears are driving a semiconductor selloff, which is fueling demand for this inverse play. Resistance sits at $37.20 and support is at $32.10. The bull case is that a break above $37.20 on strong volume could send SOXS toward $40 as semis keep rolling over. On the other side, if chip stocks stabilize and bounce, SOXS could slide back through $32.10 support pretty quickly. What I'm watching is whether we get a clean volume-backed close above resistance to confirm the bullish momentum is still intact. Not a financial advisor, just sharing what I see on the chart.
$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ This is looking pretty tempting. Might take a position before the end of the day. I usually prefer waiting for a morning pump to get in on the short side, but I've been missing out on the corrections lately.
$SpaceX(SPCX)$ I think most SPCX stockholders are more serious about holding than trading the stock for short-term gains. SPCX is a concept company with huge earnings potential and the goal of transforming the world. I, and many others on this board, have expressed a willingness to give SPCX a long-time horizon. Those with short-term gains in mind are missing the point.
$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ We're above resistance now. SOXX $525. If it closes over $526, that's a breakout and semis could fly for the next few weeks. They pushed it over $525 and now it looks like support. The close is going to be very important. SOXX might open at $535 on Monday, and SOXS would be around $40.