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The SOXX ETF has been ensnared in a bearish momentum since its last bull trap in March 2022. However, the writing was already on the wall since November 2021.
We discuss the critical levels that SOXX investors must watch before adding exposure. We have yet to observe a bear trap reversal price action.
We rate SOXX as a Hold for now. However, the semi-industry trailing median P/E has normalized markedly. Therefore, we are confident that the reversal could be near.