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The SOXL ETF price gained 1.24% on the last trading day (Tuesday, 15th Apr 2025), rising from $10.47 to $10.60. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 5.86% from a day low at $10.41 to a day high of $11.02. The price has risen in 6 of the last 10 days but is still down by -33.54% for this period. Volume fell on the last day by -140 million shares and in total, 210 million shares were bought and sold for approximately $2.23 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $11.34 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 -65.85% during the next 3 months and, with a 90% probability hold a price between $2.21 and $3.87 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.
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 $17.13. On a fall, the ETF will find some support from the short-term average at $10.16. 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. A sell signal was issued from a pivot top point on Wednesday, April 09, 2025, and so far it has fallen -16.99%. 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).
On the downside, the ETF finds support just below today's level from accumulated volume at $9.63 and $9.15.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 $9.63. If this is broken, then the next support from accumulated volume will be at $9.15 and $8.73.
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 $0.610 between high and low, or 5.86%. For the last week, the ETF has had daily average volatility of 25.37%.
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.
Check full SOXL forecast and analysis here.