High volatility in SOXL ETF price on Wednesday which ended trading at $9.34

The SOXL ETF price fell by -11.89% on the last day (Wednesday, 16th Apr 2025) from $10.60 to $9.34. During the last trading day the ETF fluctuated 17.05% from a day low at $8.33 to a day high of $9.75. The price has been going up and down for this period, and there has been a -42.56% loss for the last 2 weeks. Volume has increased on the last day by 147 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 358 million shares were bought and sold for approximately $3.34 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 -67.09% during the next 3 months and, with a 90% probability hold a price between $1.99 and $3.60 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.

There are few to no technical positive signals at the moment. 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 $10.18 and $16.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 09, 2025, and so far it has fallen -26.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

SOXL finds support from accumulated volume at $9.15 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 $1.42 between high and low, or 17.05%. For the last week, the ETF has had daily average volatility of 16.96%.

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.