High volatility in SOXL ETF price on Wednesday which ended trading at $12.77

The SOXL ETF price gained 54.79% on the last trading day (Wednesday, 9th Apr 2025), rising from $8.25 to $12.77. During the last trading day the ETF fluctuated 59.10% from a day low at $8.24 to a day high of $13.11. The price has fallen in 6 of the last 10 days and is down by -32.04% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 298 million more shares were traded than the day before. In total, 775 million shares were bought and sold for approximately $9.90 billion.

The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the ETF is expected to fall -47.88% during the next 3 months and, with a 90% probability hold a price between $4.14 and $10.93 at the end of this 3-month period. Do note, that if the ETF price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

A buy signal was issued from a pivot bottom point on Tuesday, April 08, 2025, and so far it has risen 54.79%. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the ETF. On further gains, the ETF will meet resistance from the long-term Moving Average at $19.17. On a fall, the ETF will find some support from the short-term average at $11.79. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the ETF finds support just below today's level from accumulated volume at $11.41.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the ETF price.

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 $4.87 between high and low, or 59.10%. For the last week, the ETF has had daily average volatility of 41.02%.

SOXL holds several negative signals and we believe that 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.