SOXL ETF upgraded from Sell Candidate to Hold/Accumulate after Monday trading session

The SOXL ETF price gained 4.51% on the last trading day (Monday, 2nd Jun 2025), rising from $16.17 to $16.90. During the last trading day the ETF fluctuated 6.58% from a day low at $16.04 to a day high of $17.10. The price has fallen in 7 of the last 10 days and is down by -8.1% for this period. Volume fell on the last day by -88 million shares and in total, 101 million shares were bought and sold for approximately $1.71 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 $18.10 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 -17.69% during the next 3 months and, with a 90% probability hold a price between $4.91 and $14.90 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 mixed signals in the ETF today. A sell signal was issued from a pivot top point on Wednesday, May 14, 2025, and so far it has fallen -10.30%. 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). 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 $16.69 and $14.06. A breakdown below any of these levels will issue sell signals. 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.

On the downside, the ETF finds support just below today's level from accumulated volume at $15.95 and $13.29.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 $15.95. If this is broken, then the next support from accumulated volume will be at $13.29 and $12.77.

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 $1.06 between high and low, or 6.58%. For the last week, the ETF has had daily average volatility of 7.26%.

SOXL holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.