PHLX SOX Semiconductor Sector Index Fund: Short Sell At $61.86
Trading Central | Aug 28, 2013 02:25AM ET
From a technical view, the ETF has opened this morning with a bearish breakaway gap which is a powerful technical signal. Regarding technical indicators, the daily RSI is capped by a bearish trend line while the 20-day moving average is pushing below the 50-day moving average. Furthermore, the daily MACD is below its signal line providing another bearish argument. On a relative basis against the IVV S&P500, the iShares PHLX SOX Semiconductor Sector Index Fund has struck against its declining 50-day moving average and looks set for a drop.
Trading strategy: Short Sell at $61.86 - Stop loss at $64.35 - Target at $56.25
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