Nishant Pant discusses a bearish options hedge on a member of the chip sector that appears to be breaking down.
After being overbought for months, the Nvidia-led tech rally appears to be losing steam. I'll discuss a bearish options hedge on a member of the chip sector that appears to be breaking down. Below is a 6-month daily chart of the iShares Semiconductor ETF , which monitors the chip sector. On March 8th, a significant bearish engulfing candle emerged. In an uptrend, such a candle often indicates an imminent shift in direction.
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