iShares PHLX SOX Semiconductor Sector ETF Forecast
iShares PHLX SOX Semiconductor Sector ETF price ended at $218.71 on Tuesday, after losing 0.88%.
(Updated on May 07, 2024)
The iShares PHLX SOX Semiconductor Sector ETF price fell by -0.88% on the last day (Tuesday, 7th May 2024) from $220.66 to $218.71. During the last trading day the ETF fluctuated 1.31% from a day low at $218.71 to a day high of $221.57. The price has risen in 7 of the last 10 days and is up by 6.24% over the past 2 weeks. Volume has increased on the last day by 365 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $605.06 million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares PHLX SOX Semiconductor Sector ETF with a 90% probability to be traded between $198.79 and $238.41 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SOXX Signals & Forecast
The iShares PHLX SOX Semiconductor Sector ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $215.18 and $217.60. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -0.88%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for iShares PHLX SOX Semiconductor Sector ETF
iShares PHLX SOX Semiconductor Sector finds support from accumulated volume at $214.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $2.86 between high and low, or 1.31%. For the last week, the ETF has had daily average volatility of 2.20%.
Our recommended stop-loss: $211.72 (-3.20%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SOXX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect iShares PHLX SOX Semiconductor Sector Index Fund to open at $219.66, and during the day (based on 14 day Average True Range), to move between $213.06 and $224.36, which gives a possible trading interval of +/-$5.65 (+/-2.58%) up or down from last closing price. If iShares PHLX SOX Semiconductor Sector Index Fund takes out the full calculated possible swing range there will be an estimated 5.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $214.47 (1.94%) than the resistance at $224.35 (2.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares PHLX SOX Semiconductor Sector Index Fund ETF A Buy?
iShares PHLX SOX Semiconductor Sector holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.244 Hold/Accumulate Unchanged
Predicted Opening Price for iShares PHLX SOX Semiconductor Sector Index Fund of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $219.66 ( 0.436%) | $218.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOXX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 222.52 | 1.74 % | |
| R2 | 221.43 | 1.24 % | ||
| R1 | 220.76 | 0.94 % | ||
| Current price: | 218.71 | |||
| Support | S1 | 218.57 | -0.0636 % | |
| S2 | 217.90 | -0.372 % | ||
| S3 | 216.80 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 228.84 | 4.63 % | |
| R2 | 228.13 | 4.31 % | ||
| R1 | 224.35 | 2.58 % | ||
| Current price | 218.71 | |||
| Support | S1 | 214.47 | -1.94% | |
| S2 | 206.76 | -5.46% | ||
| S3 | 205.13 | -6.21% |
SOXX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.225 | 0.0997% |
| 2 | Dec 19, 2023 | Dec 20, 2023 | Dec 27, 2023 | $1.12 | 0.580% |
| 3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $1.67 | 1.05% |
| 4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.651 | 0.383% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $1.07 | 0.740% |
FAQ
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