Semiconductors Pretty Blatant Bear Divergence with RSI

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Great Analysis on SOXL. Looking forward to an update on this symbol! Thank you! Ryan
+1 Antworten
Ryan, I re-entered SOXL on Friday afternoon based on your SPY chart. You are the best analyst out there and you don't charge for your service. Thank you for your help navigating this volatile market.
RHTrading SOXLite
@SOXLite, Love the positive message. Guys like me don't hear that all too often. Take care
Ryan, You were right about bear divergence. Stop loss hit just below the handle at $150. Position closed. Need another trade idea to re-enter.
RHTrading SOXLite
@SOXLite, New opportunities every day my friend
Could a bull flag be forming??
I believe we are in a cup and handle pattern with a measured move to the $210 area.
Price was $164 when RSI peaked at 83. Price went even higher to a second peak at $172 while RSI fell to 72. Price and RSI both fell after that second peak to $125 and 34 respectively. Thus, I imho the divergence has already played out. Current high is $187 and RSI was 75 at that peak which both are higher than that second peak. Therefore, there is no divergence from that second peak to the current high price.
RHTrading SOXLite
@SOXLite, Cup and Handle would be a very powerful pattern. More important, it's a plausible one given the shape. Appreciate your thoughts SOXLite. We'll watch it unfold.
chart underlying index SOXX.... it doesnt show divergence
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