OPEN-SOURCE SCRIPT
SOXX ETF-$345 Target or Breakdown?
🧠 SOXX ETF – Bearish RSI Divergence Amid Rising Channel | $345 Target or Breakdown?
📅 Date: November 17, 2025
📈 Ticker: NASDAQ:SOXX (iShares Semiconductor ETF)
🕰️ Timeframe: 1D (Daily)
📊 Technical Setup
SOXX has been trading within a rising parallel channel since late Q2. Price is currently consolidating near the mid-line support of this channel after a strong uptrend, with a recent close at $288.52 (-0.30%).
⚠️ Bearish Divergence Alert
The RSI Divergence Indicator (14 close) is showing a clear bearish divergence:
Price: Higher highs
RSI: Lower highs → Now around 41.76
This could suggest weakening momentum and an increased probability of a short-term correction or deeper pullback if trendline support fails.
🔍 Key Levels to Watch
Support Zones:
$280: Mid-channel trendline
$260: Horizontal structure from prior consolidation
$245–250: Lower bound of the rising channel
Resistance / Target Zones:
$300–305: Short-term resistance
$345: Longer-term target based on channel extension and fib projection (approx. Jan 2026)
📉 Bearish Breakdown?
A daily close below $280 on rising volume could trigger further downside toward $260 or lower, invalidating the bullish structure. However, holding this line keeps the uptrend intact.
🧭 Outlook Summary
Channel trend remains bullish 📈
Momentum is weakening 📉
RSI divergence = caution 🚨
Upcoming sessions are key for trend confirmation or breakdown.
Trade idea: Watch for price reaction at $280. Bullish continuation above $305 could validate the $345 projection. Breakdown could see retest of $260.
🔖 Disclaimer:
This is general information only and not financial advice. For personal guidance, please talk to a licensed professional.
📅 Date: November 17, 2025
📈 Ticker: NASDAQ:SOXX (iShares Semiconductor ETF)
🕰️ Timeframe: 1D (Daily)
📊 Technical Setup
SOXX has been trading within a rising parallel channel since late Q2. Price is currently consolidating near the mid-line support of this channel after a strong uptrend, with a recent close at $288.52 (-0.30%).
⚠️ Bearish Divergence Alert
The RSI Divergence Indicator (14 close) is showing a clear bearish divergence:
Price: Higher highs
RSI: Lower highs → Now around 41.76
This could suggest weakening momentum and an increased probability of a short-term correction or deeper pullback if trendline support fails.
🔍 Key Levels to Watch
Support Zones:
$280: Mid-channel trendline
$260: Horizontal structure from prior consolidation
$245–250: Lower bound of the rising channel
Resistance / Target Zones:
$300–305: Short-term resistance
$345: Longer-term target based on channel extension and fib projection (approx. Jan 2026)
📉 Bearish Breakdown?
A daily close below $280 on rising volume could trigger further downside toward $260 or lower, invalidating the bullish structure. However, holding this line keeps the uptrend intact.
🧭 Outlook Summary
Channel trend remains bullish 📈
Momentum is weakening 📉
RSI divergence = caution 🚨
Upcoming sessions are key for trend confirmation or breakdown.
Trade idea: Watch for price reaction at $280. Bullish continuation above $305 could validate the $345 projection. Breakdown could see retest of $260.
🔖 Disclaimer:
This is general information only and not financial advice. For personal guidance, please talk to a licensed professional.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.