DIREXION DAILY SEMICONDUCTOR BULL 3X SHARES

currently still in uptend line. break will fall to 200MA

keeping a close eye

Neckline broke. 2 Targets on the chart based on Fib confluence levels.

Semiconductor pullback with favorable risk reward

Two price path predictions for next week given the current action and patterns I'm seeing on the chart Blue arrows: Inverse H&S Orange arrows: Descending Wedge

Semiconductors are still weak for several reasons though right here might be a decent accumulation zone. SOXL has been one of the strongest 3x ETF performers this year but we're seeing some serious topping action currently with may appear to be a head and shoulders top. Here's this weeks video for SOXL: https://www.youtube.com/watch?v=ZXWL_4k1UOk

Bring back technical analysis . Too often I've been seeing people just posting a picture of the price action and then an arrow going up or down with the title "Long UVXY" or some garbage like that. Nobody gives two farts about whether or not you entered a position. Show me some fibonacci. Show me some technical divergences. Show me some diamond bottoms. Show me ...

SOXL is overbought on all time frames. Bearish Case: Coming to the end of the Long term, Medium term, and Short term elliot waves that I've drawn. (We may see a 9 wave on the short term instead of the traditional 5 waves). At 227.6% Fib Resistance level. Created a new unsustainable uptrend recently. RSI divergence Touching the top of new uptrend channel. RSI has ...

Good run here, respecting fib extension levels.

.

Bullish canal

Another nice move, uptrend in the daily chart. We do have a correction. The oversold signals the entry. Stop 5% below our entry, target in the last five high.

I don't like doing TA on leveraged ETFs generally, but you can get a good idea of what's going on. Using SMH for semis would be better, if I were using fib ratios I'd definitely use an unleveraged product for charting. Chart text repeated here: potential reversal area, might be able to squeeze another 7% out of the current rally, would wait to go long on a ...