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Direxion Daily Semiconductor Bull 3x SharesDirexion Daily Semiconductor Bull 3x SharesDirexion Daily Semiconductor Bull 3x Shares

Direxion Daily Semiconductor Bull 3x Shares

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SOXL trade ideas

SOXL Watching for Bounce at Resistance On the 15M chart, SOXL and price are approaching the resistance zone at 13- 14.5 While it is possible that resistance could break, the pattern of the past two months is that it will not. Accordingly, instead, I will watch for a reversal bounce off resistance for a swing trade short to the downside targeting the point of control line ( dark green ) inside the green support zone as the final target with the anchored VWAP ( black line now at 9.25 with the first target being the VWAP ( black line ) and the second target one standard deviation below VWAP ( light green line ); Overall taking off one-third of the position at each target and expecting 30% overall over about two weeks. An alternative is put options with 4 weeks expiration at $14.00 and another is to take a long trade on the inverse ETF SOXS.
AMEX:SOXL
by AwesomeAvani
4
rising wedge semiconductor longshort semiconductors are on the verge of breaking down, and basically if we stay over 12.20 soxl im aiming for daily gap close, or near 12.86 . if we break this ascending tightening range to the downside and more or less double top 4hr resisting from top of envelope, around 12.30s or lower, im looking toward 15 minutes demand zone in low 11s maybe 11.30. short squeeze in semiconductors, or failed bull breakout. even if longs win, im selling rallies on the daily by buying soxs on dips to weekly lows, or new weekly lows (keeping in mind the s&p can still resist from 4000 or slightly higher/nvda can sell off $160, 162.5, 165).
AMEX:SOXLLong
by cerealpatterns
5
SOXL | Semiconductor Bull 3x ETF | LongThe fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, securities of the index, and ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is a rules-based, modified float-adjusted market capitalization-weighted index that tracks the performance of the thirty largest U.S. listed semiconductor companies. The fund is non-diversified.
AMEX:SOXLLong
by DivergenceSeeker
4
Not the buy point yet!!!First off, please note that this is not a good investment instrument. The leverage, and management fee, and volatility are just not for value investment. You need to buy it at the absolute low to profit. Anyone to buy this EFT need to be very cautious. Secondly, using an options strategy may help, but the liquidity is a big concern. You pretty much see a loss at the moment you execute an order. Well, after the BAD news from AMD, we will probably see more downside in the semiconductor sector. Will it dip and lower than the 2020 March low? Maybe. Although I do hold some hope that that case won't happen but who knows? My best bet is that the low will be somewhere between $4.5 and $5 if you are looking for a long-term holding of this EFT. For short-term, it will do it usually thing jump up-and-down between $8 and $12. So here is my strategy Buy 01/17/2025 $9 PUT & Sell 10/21/2022 $8 PUT (Diagonal Put Spread) Buy 100 Shares @ $9.2 & Sell 10/21/2022 $11C Call (Covered Call) Buy 10/21/2022 $10/$12 Debit Call Spread. For the total price $920 (stock) + $350 (option contracts) = $2190 Expect profit/loss is somewhere between -$100 (if -15%) and $350(if +30%). The loss may be reduced with the "Roll" strategy, i.e. the short PUT needs to be rolled lower and later if the stock price hit $8.0. This strategy reduces the risk and maintains the profitability. I hope you will like it.
AMEX:SOXL
by yungyeh
2