iShares PHLX SOX Semiconductor
Investment Thesis
SOXX hit a 52-week high of $615.68 then reversed sharply on massive distribution volume, closing at $539.77. With the MACD turning bearish, price extended 57% above the 200-day MA, and institutional sellers clearly active, a mean reversion toward the rising 50-day MA (~$462) looks probable over the coming weeks.
Catalysts to Watch
SOXX printed a high-volume distribution day on June 5, rejecting from its 52-week high of $615.68 with volume of 22.3M shares (~3× average), closing down ~10% from the open and -12.3% from the all-time peak in just two sessions.
Why It May Work
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Timeline
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