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DIREXION SHARES ETF TRUST

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SOXL trade ideas

Soxl Large falling wedge. This thing is been extremely Berish and losing that $18 range in backtesting it yesterday as resistance was a huge sign Of a crazy Bearish move. However if this falling wedge that price has remained in for quite some time holds it stands true, 12.55-12.60 Could hold as support and that might be an area to try to grab a long position with stoploss in place below 1230 as a small risk once the momentum settles to the downside here. Holding that area as support could bottom this down turn for the short term and potentially long-term depending on how price reacts in those levels
AMEX:SOXL
by Erictaylor
1
Bottom in SOXL is in?Arguments pro a bullish scenario in $SOX / $SOXL: We have reached the 78.6 % fib retracement in SOXL According to the seasonal chart from the last ten years (see the SEASONAX screenshot at the top), in 9 of 10 cases the $SOX had made a bullish move from the 17th of May until the 8th of June At some point, the semiconductor shortage must affect the prices ... Contra arguments: $DXY is rising / interest rates are going up ... anything else? I can't see any significant arguments standing against the bullish case in $SOXL. If you have anything - please drop a comment below!
AMEX:SOXLLong
by p4917
semiconductors likely have some continued downsidesoxl is pretty much plummeting if we get a significant gap down and cant set a higher low 4hr the 15 minute trend will continue downwards until the 4hr is bullishly diverged stoch, rsi a lot of people are covering, and that may lead to some squeeze, but the over all trend is down if we close gap from either direction, and it looks like it is setting a lower high 4hr i would continue to sell semis. if we close gap from either direction and it looks like the test was sucessfuly holding some higher low around the thursday close its more bullish intermediate term but id imagine this is finding a daily lower high even if it recovers some or corrects sharply only to fall again. 22.04, 21.74, 21, 20.76, 20.22 key levels right now SOXL.
AMEX:SOXLShort
by cerealpatterns
the 4 hr is at critical .5 level and oversold stochfib of bounce gives us about 50% retracement if there is some recovery to tighten in range we could look back up at 22.23-22.48 setting a daily higher low if market decides to gap up friday. if vwma keeps rising and trama flattens out we will have a bounce in semis. if these indicators keep bearish divergence we are likely continuing lower in broader markets. $23 is still a critical level for this trade. $20.96 is the next level if we continue this pop down. semis started this correction only they can get it out.
AMEX:SOXLLong
by cerealpatterns
oversold semiconductors (SOXL)if critical support provides meaningful buy volume and we close the week near the highs then semiconductors, and the broader market could exhibit a bounce here towards lower 36s. if we see another wave of selling down at these levels were probably blowing through that support on the weekly trending toward upper 16s taking the market with it as semiconductors are a lead bear. keep TRAMA from sinking and come out of oversold STOCH and we could diverge bullishly. if things head for continuation it is likely more bearish.
AMEX:SOXLShort
by cerealpatterns
4
SOXL close to a strong supportSOXL tracks the performance of the thirty largest U.S. listed semiconductor companies. The semiconductor space is still hot, but the companies in the leveraged Direxion Daily Semiconductor Bull 3X Shares (SOXL) didn`t performed well against the inflation and raising interest rates recently. I think SOXL is now close to the strong support of $21, pre-pandemic level, from which it can bounce to the $36 resistance. Looking forward to read your opinion about it.
AMEX:SOXLLong
by TopgOptions
1
SOXL on big support.We are at a big level of support at SOXL (Direxion Daily Semiconductor Bull 3X Shares). The semiconductor industry is very important: "Semiconductors are the brains of modern electronics, enabling technologies critical to U.S. economic growth, national security, and global competitiveness. Semiconductors have driven advances in communications, computing, health care, military systems, transportation, clean energy, and countless other applications. And they are giving rise to new technologies that hold the promise to transform society for the better, including brain-inspired computing, virtual reality, the Internet of Things, energy-efficient sensing, automated devices, robotics, and artificial intelligence. Semiconductors’ greatest potential lies ahead." - Semiconductor Industry Association. Big levels of resistance are: 48ish (70% above) and next one is ATH 74,19 (158%). We're going to see some turbulence along the way. We have the problem of inflation and rate hikes by the FED but ATH are going to be met at some point.
AMEX:SOXLLong
by AltcoinBronte
1
SOXL - Long Shares Play - Quadruple Bottom on Weekly TimeframeSOXL has reached a major bullish level here, with great possibilities for calls/shares. Chart Event: Quadruple Bottom on Weekly, Double Bottom on Daily Confluence: Rising volume each time price action nears this level Bouncing neatly at weekly 200EMA Strong weekly bullish divergence Strong daily bullish divergence Chip shortage continues to benefit chipmakers Falling Wedge on 65m Trade Idea: Calls/Share Swings Price Targets: PT1 - $30.50 PT2 - $32.00 PT3 - $33.00 PT4+ - $35.00
AMEX:SOXLLong
by cloud9futures
8
Direxion Daily Semis choosing the direction with the bears. SOXLGoals 33, 21. Invalidation at 100. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
AMEX:SOXLShort
by Rykin_Capital
SOXL bearish double top*disclaimer* I haven't published anything outside of the crypto markets publicly. However, I have had my eye on SOXL, Direxion Daily Semiconductor Bull 3X Shares ETF. I originally thought that earnings for NVIDIA were going to boost the asset and asset class, however it seemed to me the night before earnings that the earnings call was already priced in. Looking at an 8 hour hollow candle chart here going back to fall 2021 makes the picture a bit clearer for me (when in doubt zoom out). SOXL did a bearish double top between late November 2021 and early January 2022. And now volume is kicking up heavily on the sell side. Especially when current volume is compared to moving average for volume. If the NVIDIA earnings call wasn't enough to lift, and rumors about auto manufacturers continue to slip in through the cracks, I see plenty of downside correction left for SOXL. That being said, this is part technical and part "buy the rumor, sell the news" analysis and I will keep my eye on this sector which has been outperforming.
AMEX:SOXLShort
by CryptoSlayerFX
SOXL forming a new range?Since we're now below the 200 MA and re-confirmed the prior resistance levels we are looking to create a new range. The Market is full of fear right now, Rate hikes, emergency FED meetings, fears of a war in Ukraine, Long term fears of stagflation, or recession. When you see the solid companies in this sector (NVDA, AMD) getting hit you know people are selling everything. I just put some lines on the chart of prior support level. It's around 28 +- That would be a 30% drop. Since this is a 3x ETF that would be an approx. 10% drop in the PHX or SMH. According to Tom Lee of fundstrat, a 1% raise in interest rates is usually accompanied by a 10% drop in Equities. We've already had a 10% SPY correction, so now the market is starting to price in some more interest rate raises.
AMEX:SOXLShort
by Sacyourking
4