SEMI should be bouncing soon.As shown in the chart.
SOXL is still a higher low along on the trendline, seeking a bounce tomorrow.
I would take loss if SOXL dropped below 38.95. Otherwise, it should be ABC wave up to 53.
Key stats
About DIREXION SHARES ETF TRUST DAILY SEMICONDUCTOR BULL 3X SHS
Expense ratio
0.76%
Home page
Inception date
Mar 11, 2010
ISIN
US25459W4583
SOXL is an aggressive and bullish 1-day bet on a concentrated portfolio of the 30 largest US-listed semiconductor companies, including manufacturers and providers of services or equipment associated with semiconductors. The funds index employs market-cap-weighting, with the weights of the top five securities capped at 8% and the remaining securities at 4%. The index may include ADRs, whose cumulative weight is capped at 10%. To gain exposure to the index, the fund invests in swap agreements, securities of the index, and ETFs that track the index. SOXL rebalances its 3x leverage dailymeaning over the long haul, targeted returns could look significantly different due to compounding effects of this daily rebalance. Prior to August 25, 2021, the fund tracked the PHLX Semiconductor Sector Index.
Classification
What's in the fund
Exposure type
Electronic Technology
Cash
Stock breakdown by region
SOXL 50 EMA BounceSOXL is tightening down in a wedge and bounced perfectly off the 50 EMA after being down over 6% on the day. Looking for continued strength into the close. Chart looking very similar to what we saw at the end of January and early February.
How to trade SOXLAMEX:SOXL now at 39.57
Falling from 57.04
Good price to buy few now
FYI, i started accumulating few from today
Will again but on good dips until 31
Target prices in 1 year.....47, 57, 63.15, 67, 70, 73.07
Support is now at 39.18, below this can quickly fall to 31 , giving a good opportunity to
The reduction target is 11-12$According to the butterfly pattern, a decline is looming with a target of $ 11-12, where there will be an excellent point for further overshooting.
SOXL shortSemiconductor Bull 3X ETF,
Bearish Engulfing and Gap down.
Short 47
Stop 57.10
Target 28, 14
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
BuyToOp
Semiconductors To Cool Off...I am out of this ETF and we have a shooting star pattern worth your consideration. Not financial advice, DYOR.
SOXL Stock Chart Fibonacci Analysis 030924Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 423.60% level
3) Hit the top = 57/423.60%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : D
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
SOXL: Logscale Bearish Gartley at Trendline ResistanceSOXL has reached the Logscale 0.886 of this potential Logscale Bearish Deep Gartley which aligns with the upper trendline of the channel it has been trading within. If it plays out, I think we could see SOXL come down to the lower trendline and perhaps even lower. This May be sparked by a selloff in
SOXLLots of room to run from its clean break through mid of the whole move up to all time highs.
I suspect it can get to 70s by end of April.
See all ideas