SOXL is tightening down in a wedge and bounced perfectly off the 50 EMA after being down over 6% on the day. Looking for continued strength into the close. Chart looking very similar to what we saw at the end of January and early February.
AMEX:SOXL now at 39.57 Falling from 57.04 Good price to buy few now FYI, i started accumulating few from today Will again but on good dips until 31 Target prices in 1 year.....47, 57, 63.15, 67, 70, 73.07 Support is now at 39.18, below this can quickly fall to 31 , giving a good opportunity to buy and hold for 1 year target of 73.
According to the butterfly pattern, a decline is looming with a target of $ 11-12, where there will be an excellent point for further overshooting.
Semiconductor Bull 3X ETF, Bearish Engulfing and Gap down. Short 47 Stop 57.10 Target 28, 14 Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account. BuyToOpen Aug Put P30 Limit 3.16 SellToOpen Aug Put P16 x2...
I am out of this ETF and we have a shooting star pattern worth your consideration. Not financial advice, DYOR.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 423.60% level 3) Hit the top = 57/423.60% Chart time frame : D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : D A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance....
SOXL has reached the Logscale 0.886 of this potential Logscale Bearish Deep Gartley which aligns with the upper trendline of the channel it has been trading within. If it plays out, I think we could see SOXL come down to the lower trendline and perhaps even lower. This May be sparked by a selloff in NVDA and AVGO.
Lots of room to run from its clean break through mid of the whole move up to all time highs. I suspect it can get to 70s by end of April.
21.2.24 - I would wait for <28, golden zone or MOAT breakthrough and on rebound. - will see if long options will be bought 🤓 - currently UP there is a big resistance in the form of the upper blue channel
Since the New Year started SOXL has declined hard Straight into a -1 sig anticipated support around 25. Which is also a weekly level from 7/14/2023 There seems to be a jump over at VWAP around 28 which is also the daily close from 12/20/2023. The bet here is that it stays in the 22-31 range and the fresh Weekly supports at the red lines hold. It could keep pushing...
SOXL is the triple leveraged semi-conductor ETF while SOXS is its inverse. While SOXL is primarily up trending in its intermediate and full-time history, it does from time to time have a correction mainly when the technology sector gets challenged. I have found that plotting the ratio of the share values is a very accurate way of pinpointing those...
Taking a stab at SOXL for a reversal here. Tightening down in a wedge for the last week. After semis had been making new highs. Relatively oversold RSI on the 65min and MACD about to flip bullish on the same timeframe. Active trade. In @ $31.99, target $36
I'm already short SOXL puts down at 22 set to expire, and was looking to get on a full condor. The resistance side has a bunch of spikes from early 2022 on the weekly that are all tested levels. Inside the last spike is a Daily level 45.58 that is likely where the rally is headed to find liquidity. When it tests there, I will look to sell calls at or above 57.50 or 58.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 423.60% level 3) Hit the ceiling = 38.8/423.60% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : D A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from...
This pattern looks like a good cup handle set up. Also, risk aversion, overblown rate cut bets retracement, Yen BOJ holds rates but likely not hike in spite of inflation out of fear of disrupting the markets after so long without actual non-monetary engineered inflation from actual productivity after nearly 30 years after exploding countries debt in the 90s where...
This has been my go to for day trades. Sharing the levels for next week. Safe trades!
Looks to be setting up for a monster move on the weekly. Holds all top Semi conductors such as AMD and NVDIA! 3X LEVERED BULL