Strong day for SOXL ETF price on Monday rising 7.30% to $20.58

The SOXL ETF price gained 7.30% on the last trading day (Monday, 9th Jun 2025), rising from $19.18 to $20.58. During the last trading day the ETF fluctuated 7.01% from a day low at $19.68 to a day high of $21.06. The price has risen in 7 of the last 10 days and is up by 30.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 47 million more shares were traded than the day before. In total, 161 million shares were bought and sold for approximately $3.31 billion.

The ETFis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $21.25 will give a strong buy signal and a trend shift could be expected.Given the current horizontal trend, you can expect SOXL ETF with a 90% probability to be traded between $8.57 and $21.55 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETF seldom manage to go directly from the bottom of a trend up to the top. ETF turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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 $18.43 and $15.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 08, 2025, and so far it has risen 149.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $18.30 and $17.13.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 $18.30. If this is broken, then the next support from accumulated volume will be at $17.13 and $15.95.

This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.38 between high and low, or 7.01%. For the last week, the ETF has had daily average volatility of 7.26%.

SOXL holds several positive signals and is considered to be a good choice at current levels. We expect the SOXL ETF to perform great in the short-term period.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.