Is SOXL ever going to breakout...
Have held long on SOXL for about 5.5 weeks now with an average price of $30. I identified a wedge alongside "hidden" divergence on the MACD on a weekly time scale but it's still been pretty much in the same zone/area of consolidation.
When the DeepSeek news broke out, I was for sure ready to cut ties with this one since the Nasdaq was in a complete bloodbath but I gave it some room and glad to see it has been recovering OK for now.
My original target for one is/was $40 but I'd consider taking it off the table if we saw $35+ again. We'll see how this week performs and watch for that gap being filled.
Good Luck & Trade Safe.
When the DeepSeek news broke out, I was for sure ready to cut ties with this one since the Nasdaq was in a complete bloodbath but I gave it some room and glad to see it has been recovering OK for now.
My original target for one is/was $40 but I'd consider taking it off the table if we saw $35+ again. We'll see how this week performs and watch for that gap being filled.
Good Luck & Trade Safe.
•NYC Trader of 15 Years in the markets
•Need Help Trading? internaltrader.com/helptrading
•Need Help Trading? internaltrader.com/helptrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
•NYC Trader of 15 Years in the markets
•Need Help Trading? internaltrader.com/helptrading
•Need Help Trading? internaltrader.com/helptrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.