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The SOXL ETF price fell by -5.17% on the last day (Monday, 21st Apr 2025) from $9.19 to $8.71. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 7.24% from a day low at $8.15 to a day high of $8.74. The price has been going up and down for this period, and there has been a -0.23% loss for the last 2 weeks. Volume has increased on the last day by 21 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, 251 million shares were bought and sold for approximately $2.19 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 -68.80% during the next 3 months and, with a 90% probability hold a price between $1.65 and $3.18 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 $9.74 and $15.88. 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 -31.79%. 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.
On the downside, the ETF finds support just below today's level from accumulated volume at $8.25.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 $0.590 between high and low, or 7.24%. For the last week, the ETF has had daily average volatility of 9.88%.
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.
Check full SOXL forecast and analysis here.