Leveraged Chip ETF Chart Flags Double-Top After Record Inflows
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The leveraged semiconductor ETF that drew record inflows last week has carved out a double-top formation on the daily chart, with price rejected twice near the same resistance band tied to AI-buildout optimism.
Momentum has clearly turned, with MACD crossing below its signal line and RSI sliding from overbought toward the mid-40s, confirming the loss of bullish control after renewed doubts over AI investment returns.
The neckline support from the prior consolidation base is now the key level to watch; a decisive break below it would validate the reversal structure and expose further downside for leveraged chip exposure.