SOXL ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session

The SOXL ETF price fell by -0.433% on the last day (Friday, 16th May 2025) from $18.47 to $18.39. During the last trading day the ETF fluctuated 4.72% from a day low at $17.76 to a day high of $18.60. The price has risen in 6 of the last 10 days and is up by 38.37% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -36 million shares and in total, 101 million shares were bought and sold for approximately $1.86 billion.

The ETFhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $18.38, a level that may pose a second chance to hit a runner. According to fan-theory $34.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

The SOXL ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $17.03 and $12.75. A breakdown below any of these levels will issue sell signals. 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 -2.39%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

SOXL finds support from accumulated volume at $17.99 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 $0.84 between high and low, or 4.72%. For the last week, the ETF has had daily average volatility of 6.19%.

The SOXL ETF is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.