High volatility in SOXL ETF price on Monday which ended trading at $9.15

The SOXL ETF price gained 4.81% on the last trading day (Monday, 7th Apr 2025), rising from $8.73 to $9.15. During the last trading day the ETF fluctuated 51.97% from a day low at $7.23 to a day high of $10.98. The price has fallen in 7 of the last 10 days and is down by -56.43% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 236 million more shares were traded than the day before. In total, 718 million shares were bought and sold for approximately $6.57 billion.

The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.43 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the ETF is expected to fall -44.85% during the next 3 months and, with a 90% probability hold a price between $4.65 and $12.20 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Friday, April 04, 2025, and so far it has risen 4.81%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SOXL ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the ETF. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.35 and $20.32. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

SOXL finds support from accumulated volume at $8.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $3.76 between high and low, or 51.97%. For the last week, the ETF has had daily average volatility of 24.70%.

SOXL is oversold on RSI14 (17). Some ETF may drop long and hard while being oversold on RSI before turning, which increases the general risk.

SOXL holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.