AMEX:SOXL   Direxion Daily Semiconductor Bull 3x Shares
Notice how it experiences resistance and support according to the volume profile. Needs to cross the top resistance (in blue) for the potential of a rally. Otherwise it will be rejected quite hard downward.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.