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<Weekly Analysis ②> SOXL is slowly but steadily rising! What happened after receiving important economic indicators?
※In this section, we will conduct a comprehensive analysis by performing a multi-faceted technical evaluation. Additionally, the evaluation will be done based on a scale of "5 (buy) - 1 (sell)."
In terms of technical analysis (overall rating: 2.65/5).
Points
- In terms of chart patterns, a gradual upward trend is observed. Currently, there is a development to test the bearish trend factors ① and ③. Regarding ①, there is a suspicious development due to the increase in support rating for Mr. Trump and the decrease in support rating for Ms. Harris. Concerns are raised about the potential negative impact of economic sanctions imposed by the USA on Iranian petroleum products due to the "deterioration of the situation in the Middle East" on inflationary indicators. Despite some slight deterioration in employment statistics, the market does not seem to have a significantly negative impression.
- There is a continuing expectation of upward momentum in the short to medium term. Although there seems to be a temporary pause in the upward trend due to the sustained buying volume, there is a potential for an increase in the future as the volume itself is decreasing.
- There are signs of a shift from a sideways trend to an upward trend in the medium term. In particular, there is room for the acceleration of the upward trend in the Directional Movement Index (DMI).
- Market fears are not observed and are moving at appropriate levels. Looking at the Bollinger Bands (BOLL), is the upward momentum likely to continue?
☆ Market Sentiment (rating: 2.5/5).
* Analyzing the rough development using a typical chart pattern for market sentiment.
- Chart pattern (3/5)
It is steadily rising along the purple resistance line. However, no significant chart patterns have emerged.
- Dow Theory (2/5)
・Continuing the downtrend trend from last week, testing factors such as "① Trump trade concerns (around 69)" and "③ concerns about hard landing due to rising unemployment rates."
→In terms of the chart pattern, a gradual upward trend can be observed.Currently, there is a development to test the bearish trend factors ① and ③. Concerning ①, due to the increase in Trump's approval rating and decrease in Harris' approval rating, there are suspicions about the situation. Regarding ③, there are concerns about the negative impact of the economic sanctions by the USA on Iran's petroleum products due to the "worsening situation in the Middle East" affecting inflation-related indicators. Despite a slight deterioration in the employment statistics results, the market does not seem to have a significantly negative impression.
☆ Trading Timing (Rating: 3/5)
* Analyzing selling or buying timing by combining moving averages and volume.
- Moving Average (3/5)
The candlestick chart is supported on the 5-day moving average line and is rising. A golden cross occurred on the 5/21/50-day and 21/50-day moving average lines. A death cross occurred on the 75/200-day moving average lines.
- Volume Moving Average (3/5)
Buying volume has been continuing, but there is a decreasing trend compared to last week. The width of the short-term/medium-term moving average lines is also expanding.
There is still an expectation of upward momentum in the short to medium term. The buying volume continues, so...It seems that there will be a temporary pause in the rise, but as the volume of buying is decreasing, there is a possibility of increase in the future.
☆Trend (Rating: 2.5)
I will analyze the medium to long-term upward and downward trends.
・Ichimoku Cloud (2/5)
The three-role reversal remains the same as last week. However, the lagging line touches the candlestick chart, indicating a positive shift.
・DMI (3/5)
MDI slightly declining / PDI rising with ADX, continuing the upward trend. Recently, there was a cross with PDI/ADX, widening the difference between PDI and MDI.
→There are signs indicating a shift from a sideways trend to an upward trend from a medium-term perspective.Especially, there is room for the DMI to accelerate the upward trend.
☆ Overheating sentiment (rating: 2.6/5)
Analyzing the overheating feeling from levels of being overbought.
・BOLL (3/5).
In a poised state at the +1 sigma position. The Bollinger Bands width itself is narrowing, giving the impression of gathering strength.
・RSI (2.5/5)
It is expected to rise around level 55 throughout the week.
-MACD (2.5/5).
Although it remains near level 0, it is gradually rising with no chance of a Death Cross occurring.
Market fear is not observed, staying at appropriate levels.Is the momentum of the rise likely to continue based on Bollinger Bands?
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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