To The Moon

Please find and follow my YT channel (nerdbull1669) for Daily SG and US Stock Watchlist.

Do follow me as I share quality stock pick for Daily Watchlist.

I have been following $Semiconductor Bull 3X Shares(SOXL)$ for chip(or rather semiconductor) stocks.

The A.I. model predicted BUY signal for $Intel(INTC)$ and SOXL for 30 March 2023. This make wonder whether we should be following SOXL if we are trading or have any chip or semiconductor stocks in our portfolio.

How AMD, INTC and NVDA perform on 30 Mar 23

These are the 3 chip stocks that I currently monitor : AMD, INTC and NVDA.

It seem like when SOXL is gaining very well (around 5.09%), these chip stocks (AMD, INTC and NVDA) will perform.

But how do we look at whether there is any clues for SOXL price relationship to these 3 chip stocks?

SOXL Day High Timing - Coincide with INTC and NVDA

I have observed that when SOXL reaches its Day High, similarly INTC and NVDA also reaches their Day High around the same time.

So what is this so?

I will look at the Top 25 stock component in SOXL.

https://ycharts.com/companies/SOXL/holdings/overview

If you look at the chart below, NVDA has a 6.09% weight in SOXL, so it is reasonable that its Day High coincide with SOXL.

But AMD despite having 5.41% weight in SOXL, it did not really obtain the same Day High around the same time.

INTC has similar Day High timing despite having only 3.45% weight. Only Micron (MU) have a negative change instead.

SOXL Chart - 30 Mar 2023

NVDA Chart - 30 Mar 2023

INTC Chart - 30 Mar 2023

AMD Chart - 30 Mar 2023

How I would use SOXL to trade INTC, NVDA, AMD

What I would use SOXL to add on to my A.I. model guidance and trading plan on how the semiconductor stocks are moving.

I will pay particular attention to INTC since they seem to share similar trading trend (e.g. price action, timing).

For NVDA, the similarity is not very close, hence I would stick to the usual A.I. model guidance + my own trading plan. For AMD, I believe the approach will be similar.

Maybe it is not coincidence that the A.I. model has given INTC and SOXL together in 30 Mar 2023 prediction.

This is my personal observation and how I normally do evaluation on how the A.I. model predicted result have perform.

The evaluation would help me to better understand any trend that could be further enhance to make the A.I. model better in accuracy.

Do like, share and comment on this article if you find this trading thought useful.

@TigerStars appreciate if you could feature this article so that fellow tiger would benefit from my trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Technical Analysis, and there are many other indicators that need to be look at together. (e.g., Price Action, Volume, etc.).