Volatile ride for SOXL ETF price on Thursday moving between $11.40 and $14.12

The SOXL ETF price fell by -29.83% on the last day (Thursday, 3rd Apr 2025) from $16.26 to $11.41. During the last trading day the ETF fluctuated 23.86% from a day low at $11.40 to a day high of $14.12. The price has fallen in 7 of the last 10 days and is down by -42.75% for this period. Volume has increased on the last day by 174 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 296 million shares were bought and sold for approximately $3.38 billion.

The ETF has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($12.15) are considered to be a "second chance" to get out. According to the fan-theory $0.83 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

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. 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 $16.02 and $21.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 24, 2025, and so far it has fallen -45.67%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 $2.72 between high and low, or 23.86%. For the last week, the ETF has had daily average volatility of 13.34%.

SOXL is oversold on RSI14 (23). Some ETF may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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.