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Direxion Daily Semiconductor Bull 3x SharesDirexion Daily Semiconductor Bull 3x SharesDirexion Daily Semiconductor Bull 3x Shares

Direxion Daily Semiconductor Bull 3x Shares

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SOXL trade ideas

SOXL pullback is ready to buy longSOXL the 3X leveraged ETF of semiconductor stocks has gained 145% for the first half of the year. As shown on a 2H chart, the price has pulled back but the overall trend of HH and HL is intact within an ascending parallel channel. Price previously touched the lower trendline on May 24th while it touched the upper trendline May 30th and then again June 15th. Between May 31st and June 7th it did a Fibonacci retracement. Price is presently reversing at the lower trendline and is above the Ichimoku cloud a sign of bullish predominance. Price is above the mean VWAP anchored to the low of May 24th another bullish sign. The RSI indicator showing Ichimoku features has an RSI above 50 and above the cloud affirming a bullish bias. I believe that this is setup for a long trade with about 12-15% upside in two weeks or less for a much smaller risk. A call option trade could also be entertained if a setup with a good delta low spread and high volume / liquidity can be found.
AMEX:SOXLLong
by AwesomeAvani
SOXL - Rising Trend Channel [MID TERM]🔹Breakout the rising trend up in the medium long term. 🔹Achieves target at 25.20 after breaking rectangle formation. 🔹Support at 22 and resistance at 46. 🔹Technically positive for medium-term long-term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head & Shoulder | BEARISH | 🔴 🔹REC - Rectangle | 🔵 🔹iHNS - inverse head & Shoulder | BULLISH | 🟢 Verify it first and believe later. WavePoint ❤️
AMEX:SOXLLong
by wavepoint99
3
19/06/2023 Weekly Idea SOXL/WOODWeekly idea of this week is to long SOXL, short WOOD. With Apple's announcement of vision pro in early June, I expect a rise in demand of semiconductors in the supply chain (and also in upstream industries such as metal mining/battery making). WOOD is least correlated to the upstream industries while also reported being shrinking in the latest ISM report. Price spread is currently 0.34. We would stop loss at 10% (ie 0.31) and looking for soft 30% profit target at 0.447 (which was in Mar 2022).
AMEX:SOXL
by BigTimmy3000
1
Short Semiconductors by Trading SOXS LongThis chart shows the long-term ratio between SOXL/SOXS. The intent is to detect reversals between semi-conductors long and short. At the pivot high, the price of SOXL compared with SOXS is at its highest. With a retreat from the pivot high, the price of SOXL is retreating while SOXS is rising. Historically in 2022 as shown on the chart, pivots were with a ratio of 1,25 to 2,35 while the low pivots were with a ratio of 0.2 to 0.6. At present SOXL has run up and over-extended as part of the AI breakout phenomenon. The ratio of 1.8 is in the reversal zone where SOXL price is dropping while SOXS price begins a significant rise. At present, the mass index is above 27 and awaiting a drop below 26.5. The second indicator rate of change (ROC) detects spikes in the SOXL /SOXS ratio presumptive for a pivot. The last time SOXS ran up over a long term ( with SOXL turning down) was August to October when price increased from $33 to $88 representing a 266% rise. I see this as a prior supertrend that could now be repeated again. In conclusion, this idea leads me to take a swing long position is SOXS which I expect to trend up over a period of a couple of months or more.
AMEX:SOXLLong
by AwesomeAvani
4
SOXLI hope you caught my idea earlier this month, in which I explain how April chop beneath mid of the 6-23 range likely deviation before sned. Now that we're here: If above 19 it's sending 23, which is first quarter of the whole move. Has plenty of gap incentive for higher between first quarter and 50% retracement (40) as well. If we do get the pullback to 17s you know what to do, but I believe it's going to be an exciting month of June. If above 23 it's sending 40, so long as stays above 23.
AMEX:SOXLLong
by jhonnybrah
1
Mar/2023 Plan for $SOXLGT ($8.77) - VTN ($12.5) - Fibo ($12.45) Plan A: Sell put option one month expire to earn premium at $12.5. Goal to earn 4% monthly premium from collaterals money. Plan B: I am willing to hold SOXL long-term at $12.00/share if I need to exercise my Plan A sell put option. Plan C: I will sell cover call option for Plan B to earn 4-5% monthly premium income from the stock value and dividend income. Plan D: Only sell my SOXL at $19.00 for 55% capital gain from $12.00. Or I will continue to do Plan C to earn 4-5% monthly premium income from the stock value and dividend income.
AMEX:SOXL
by tringuyentpt
1
SOXL - Rising Trend Channel [MID TERM]- SOXL is moving within a rectangle formation between support at 12.99 and resistance at 18.59. - A decisive break through one of these levels indicates the new direction for the stock. - SOXL is between support at 13.70 and resistance at 18.00. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later. WavePoint ❤️
AMEX:SOXLLong
by wavepoint99
2
SOXLLocally, at least since last April, SOXL has been confined to a trading range as defined herein by yellow horizontal lines, which is the range from 23 highs to 6 lows, thereby having mid at 14.5. So long as above 14.5, I reckon that SOXL will make its way to the range highs (23). On a longer time horizon, it seems likely to reclaim 23 as support and resume trading within its larger range, which is from its 73 highs to 6 lows and has mid at 39.5. So 23 next, and then reclaim 23 for 39.
AMEX:SOXLLong
by jhonnybrah
Megaphone Bottom | 20% move possibleDirexion Daily Semiconductor Bull 3X Shares forms bullish "Megaphone Bottom" chart pattern "Megaphone Bottom" chart pattern formed on Direxion Daily Semiconductor Bull 3X Shares (SOXL:NYSE). This bullish signal indicates that the stock price may rise from the close of $16.61 to the range of $19.60 - $20.30. The pattern formed over 16 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis. Tells Me: The recent broadening action tells us that trading has been out of control, but a breakout on the upside suggests we're starting a more decisive uptrend. With its broadening price swings, the Megaphone represents a market that's unstable and out of control. It typically consists of two successively higher highs between three lower lows, and the reversal signal occurs when the price breaks up above the second peak (the highest high) as a sign of a more decisive bullish move.
AMEX:SOXLLong
by moneytalkstome
SOXL - Failing Trend [MIDTERM]SOXL has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. SOXL has received a positive signal from the moving average indicator, thus signaling a continued rise. The stock is approaching support at 14, which may give a positive reaction. However, a break downwards through 14 will be a negative signal. SOXL is overall assessed as technically neutral for the medium long term.
AMEX:SOXLLong
by wavepoint99