Today's technical discussion highlighted key support and reversal zones in the semiconductor space.

Why It Matters

Technical analysts noted that $SOXX failed to hold prior support but is now trading inside the major $455–$477 support zone. A weekly close in this area could stem the selling pressure.

Meanwhile, $SNDK is trading inside a major wave reversal zone projected between $916–$1,191. The current price around $1,015 represents a roughly 47% decline from the high, drawing attention for potential buyer entry.

What the Experts Are Saying

@AsafNaamani pointed out that price is holding within the reversal zone, with the 0.5 Fibonacci retracement flipping into support and forming a higher low, accompanied by rising volume, signs that buyers may be gaining control.

The analyses stress the importance of the weekly close and the potential for entries at these wave reversal zones.

The Bottom Line

Technical focus today remains on monitoring support and reversal zones in semiconductor stocks, using Fibonacci and Elliott Wave structures as primary analytical tools.