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The SOXL ETF price gained 5.53% on the last trading day (Tuesday, 22nd Apr 2025), rising from $8.71 to $9.19. During the last trading day the ETF fluctuated 6.21% from a day low at $8.85 to a day high of $9.40. The price has been going up and down for this period, and there has been a 0.45% gain for the last 2 weeks. Volume fell on the last day by -21 million shares and in total, 230 million shares were bought and sold for approximately $2.12 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 $9.86 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 -69.28% during the next 3 months and, with a 90% probability hold a price between $1.53 and $3.03 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 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 $9.68 and $15.56. 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 -28.02%. 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).
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 $0.550 between high and low, or 6.21%. For the last week, the ETF has had daily average volatility of 8.73%.
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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Strong Sell candidate.
Check full SOXL forecast and analysis here.