Red day on Friday for SOXL

The SOXL ETF price fell by -4.78% on the last day (Friday, 23rd May 2025) from $16.51 to $15.72. It has now fallen 7 days in a row. During the last trading day the ETF fluctuated 5.96% from a day low at $15.10 to a day high of $16.00. The price has fallen in 7 of the last 10 days but is still up by 11.49% over the past 2 weeks. Volume has increased on the last day by 34 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, 177 million shares were bought and sold for approximately $2.78 billion.

The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.90 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the ETF is expected to fall -32.20% during the next 3 months and, with a 90% probability hold a price between $2.67 and $12.13 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.

The SOXL ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the ETF. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $17.44. On a fall, the ETF will find some support from the long-term average at approximately $13.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 14, 2025, and so far it has fallen -16.56%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

On the downside, the ETF finds support just below today's level from accumulated volume at $12.77 and $12.34.There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SOXL finds support just below today's level at $12.77. If this is broken, then the next support from accumulated volume will be at $12.34 and $12.03.

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 $0.90 between high and low, or 5.96%. For the last week, the ETF has had daily average volatility of 6.63%.

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.