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Soxlbulls

Direxion Semiconductor 3x Bull | SOXL | Long at $30.00So many semiconductor companies... which one to choose? Enter AMEX:SOXL - not for the faint of heart. Losses and gains triple compared to most semiconductor ETFs, so stay away if high-risk plays aren't your thing. The top three holdings are NASDAQ:AMD , NASDAQ:AVGO , and NASDAQ:NVDA - two of which are at all-time highs... I wouldn't be shocked if AMEX:SOXL enters the low $20's to test the base of my historical simple moving average area, but I don't think we are done hearing about AI and the semi demand. There are large gaps to fill above and below the current price and we are at the 50/50 stage (i.e. historical simple moving average zone) for a price move up or down. My bet is up, especially with the new presidential administration. If politicians start dumping semis, I'm out. Thus, at $30.00 AMEX:SOXL is in a personal buy zone. Target #1 = $35 Target #2 = $40 Target #3 = $50 Target #4 = $60
AMEX:SOXLLong
by WorthlessViews
1
SOXLLocally, at least since last April, SOXL has been confined to a trading range as defined herein by yellow horizontal lines, which is the range from 23 highs to 6 lows, thereby having mid at 14.5. So long as above 14.5, I reckon that SOXL will make its way to the range highs (23). On a longer time horizon, it seems likely to reclaim 23 as support and resume trading within its larger range, which is from its 73 highs to 6 lows and has mid at 39.5. So 23 next, and then reclaim 23 for 39.
AMEX:SOXLLong
by jhonnybrah
SOXL / SMH - CREATING A BULLISH REVERSALBACKGROUND: SOXL (3x ETF) created a great reversal pattern back in JUNE - JULY 2022. It's tempting to ignore it because it ultimately failed on 8/26/22. Nonetheless, it was a great technical entry point when the price broke above $17. CURRENT PRICE ACTION: The reason I'm pointing out what happened in JUNE - JULY is because SOXL ETF is forming another BULLISH reversal (early stage) having just passed above last Friday's (9/30) high and entering back into the $9.50 - $10.50 range. The two previous reversals (8/26, 9/13) had failed. Yet the job of a trader is to not HOPE or PREDICT, but rather TRADE the signals and MANAGE RISK ACCORDINGLY . GAMEPLAN: I'm watching if the price closes above $10.35 (approx.) within the next few days. I'm anticipating some price action around this level. Any close above $10.35 can follow with some pullback. In fact this is a GREAT entry point for the bears if we were to follow trend alone. However, the reversal that happened from $9.50 and the bounce that's happening on the NASDAQ (potential double bottom) can signal a potential reversal in the market (short-term). There are two potential bullish reversal scenarios: 1. Straight up(rare) 2. Chop sideways and build a larger reversal base (as happened in JUNE - JULY) LOOK-OUT FOR: What comes out of the FED emergency meeting. As mentioned in my previous post on the status of the DOW JONES - I think the analysts at the FED see the same. The FED will either blink and change its' stance or the market is taking another big leg down... Be safe all and thank you for reading.
AMEX:SOXLLong
by andremkv
2