Volatile ride for SOXL ETF price on Tuesday moving between $16.58 and $18.38

The SOXL ETF price gained 8.28% on the last trading day (Tuesday, 3rd Jun 2025), rising from $16.90 to $18.30. During the last trading day the ETF fluctuated 10.89% from a day low at $16.58 to a day high of $18.38. The price has fallen in 6 of the last 10 days but is still up by 1.33% 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, 55 million more shares were traded than the day before. In total, 156 million shares were bought and sold for approximately $2.86 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 $18.19, a level that may pose a second chance to hit a runner. According to fan-theory $30.03 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 $16.95 and $14.29. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 14, 2025, and so far it has fallen -2.87%. 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).

On the downside, the ETF finds support just below today's level from accumulated volume at $17.13 and $16.17.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 $17.13. If this is broken, then the next support from accumulated volume will be at $16.17 and $15.95.

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 $1.81 between high and low, or 10.89%. For the last week, the ETF has had daily average volatility of 8.02%.

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.