SOXL ETF Forecast
SOXL ETF price ended at $55.30 on Tuesday, after gaining 3.91%.
(Updated on Jun 25, 2024)
The ETF lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 39.10% during the next 3 months and, with a 90% probability hold a price between $61.60 and $92.42 at the end of this 3-month period.
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SOXL Signals & Forecast
The SOXL ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $59.25. On a fall, the ETF will find some support from the long-term average at approximately $50.64. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. 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 Tuesday, June 18, 2024, and so far it has fallen -15.24%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SOXL ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $48.81 and $48.59. 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 $48.81. If this is broken, then the next support from accumulated volume will be at $48.59 and $42.37.
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 $3.10 between high and low, or 5.92%. For the last week, the ETF has had daily average volatility of 7.72%.
Our recommended stop-loss: $52.37 (-5.30%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 37 days ago.)
Trading Expectations (SOXL) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Direxion Daily Semicondct Bull 3X ETF to open at $54.37, and during the day (based on 14 day Average True Range), to move between $51.53 and $59.07, which gives a possible trading interval of +/-$3.77 (+/-6.81%) up or down from last closing price. If Direxion Daily Semicondct Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 13.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.72 (6.18%) than the support at $48.81 (11.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Direxion Daily Semicondct Bull 3X ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SOXL ETF to perform well in the short-term.
Current score: 1.345 Buy Candidate Unchanged
Predicted Opening Price for Direxion Daily Semicondct Bull 3X ETF of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$54.37 ( 1.69%) | $55.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOXL
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 57.47 | 3.92% |
R2 | 56.28 | 1.78% |
R1 | 55.55 | 0.454% |
Price | 55.30 | |
S1 | 53.18 | -3.83% |
S2 | 52.45 | -5.15% |
S3 | 51.27 | -7.29% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 62.67 | 13.33% |
R2 | 60.02 | 8.54% |
R1 | 58.72 | 6.18% |
Price | 55.30 | |
S1 | 48.81 | -11.74% |
S2 | 48.59 | -12.13% |
S3 | 42.37 | -23.38% |
SOXL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0353 | 0.0784% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0630 | 0.208% |
3 | Feb 11, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0330 | 0.191% |
4 | Feb 11, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0380 | 0.160% |
5 | Feb 11, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0250 | 0.160% |
FAQ
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