Burry MachineI made an indicator that plays "critical darling" lyrics from slipnot whenever there is a bearish signal.
SOXL trade ideas
oversold semiconductors (SOXL)if critical support provides meaningful buy volume and we close the week near the highs then semiconductors, and the broader market could exhibit a bounce here towards lower 36s. if we see another wave of selling down at these levels were probably blowing through that support on the weekly trending toward upper 16s taking the market with it as semiconductors are a lead bear. keep TRAMA from sinking and come out of oversold STOCH and we could diverge bullishly. if things head for continuation it is likely more bearish.
Near-term straddle argument for $SOXLLong-term outlook for semiconductors are always bullish, however, near/short-term we've seen a lot of volatility from ETF's like $SOXL.
Recommending a near-term straddle. I like the spread on something like the May 20th call @ $23, and May 20th put @ $23.50.
Given that beta is ~3.7 and market sentiment continues to remain mixed, I think this is a great way to take advantage of the volatility.
SOXL close to a strong supportSOXL tracks the performance of the thirty largest U.S. listed semiconductor companies.
The semiconductor space is still hot, but the companies in the leveraged Direxion Daily Semiconductor Bull 3X Shares (SOXL) didn`t performed well against the inflation and raising interest rates recently.
I think SOXL is now close to the strong support of $21, pre-pandemic level, from which it can bounce to the $36 resistance.
Looking forward to read your opinion about it.
SOXL on big support.We are at a big level of support at SOXL (Direxion Daily Semiconductor Bull 3X Shares). The semiconductor industry is very important:
"Semiconductors are the brains of modern electronics, enabling technologies critical to U.S. economic growth, national security, and global competitiveness.
Semiconductors have driven advances in communications, computing, health care, military systems, transportation, clean energy, and countless other applications. And they are giving rise to new technologies that hold the promise to transform society for the better, including brain-inspired computing, virtual reality, the Internet of Things, energy-efficient sensing, automated devices, robotics, and artificial intelligence. Semiconductors’ greatest potential lies ahead." - Semiconductor Industry Association.
Big levels of resistance are: 48ish (70% above) and next one is ATH 74,19 (158%).
We're going to see some turbulence along the way. We have the problem of inflation and rate hikes by the FED but ATH are going to be met at some point.
SOXL gran volumen y sporte interesanteHere an interesting idea about SOXL....
- Big volume
- Strong support
Good luck!
SOXL - Long Shares Play - Quadruple Bottom on Weekly TimeframeSOXL has reached a major bullish level here, with great possibilities for calls/shares.
Chart Event: Quadruple Bottom on Weekly, Double Bottom on Daily
Confluence:
Rising volume each time price action nears this level
Bouncing neatly at weekly 200EMA
Strong weekly bullish divergence
Strong daily bullish divergence
Chip shortage continues to benefit chipmakers
Falling Wedge on 65m
Trade Idea: Calls/Share Swings
Price Targets:
PT1 - $30.50
PT2 - $32.00
PT3 - $33.00
PT4+ - $35.00
$SOXL Key Levels, Analysis, & Targets $SOXL Key Levels, Analysis, & Targets
So this is a 3x semiconductor ETF by request for @xianloon
Buy targets are in green.
Sell targets are in red.
And I’d expect 30-44% for this trade. So if you average down into it just set your sell order for 30% above your average…
Structure of the Trade:
1 at 36.42
1 at 31.76
2 at 28
4 at 22
8 at 17.63
(Times your multiplier (x10, x100 etc)
I might play this one with you
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SOXL downtrend breakSOXL broke upward from January 4th '22 downtrend. Things are looking up. Rally to $40+ or range bound then rally. We'll see how it plays out.
Direxion Daily Semis choosing the direction with the bears. SOXLGoals 33, 21. Invalidation at 100.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
SOXL Pinch Descending triangle squeeze between $28 zone support of December 2020 and March/May 2021 and resistant downtrend line around $34 since Jan 2022. Break down looking at $21 range, if it happens. $28 has been tested several times and could hold again.
SOXL bearish double top*disclaimer*
I haven't published anything outside of the crypto markets publicly. However, I have had my eye on SOXL, Direxion Daily Semiconductor Bull 3X Shares ETF.
I originally thought that earnings for NVIDIA were going to boost the asset and asset class, however it seemed to me the night before earnings that the earnings call was already priced in.
Looking at an 8 hour hollow candle chart here going back to fall 2021 makes the picture a bit clearer for me (when in doubt zoom out).
SOXL did a bearish double top between late November 2021 and early January 2022. And now volume is kicking up heavily on the sell side. Especially when current volume is compared to moving average for volume.
If the NVIDIA earnings call wasn't enough to lift, and rumors about auto manufacturers continue to slip in through the cracks, I see plenty of downside correction left for SOXL.
That being said, this is part technical and part "buy the rumor, sell the news" analysis and I will keep my eye on this sector which has been outperforming.
SOXL forming a new range?Since we're now below the 200 MA and re-confirmed the prior resistance levels we are looking to create a new range.
The Market is full of fear right now, Rate hikes, emergency FED meetings, fears of a war in Ukraine, Long term fears of stagflation, or recession.
When you see the solid companies in this sector (NVDA, AMD) getting hit you know people are selling everything.
I just put some lines on the chart of prior support level. It's around 28 +- That would be a 30% drop.
Since this is a 3x ETF that would be an approx. 10% drop in the PHX or SMH. According to Tom Lee of fundstrat, a 1% raise in interest rates is usually accompanied by a 10% drop in Equities. We've already had a 10% SPY correction, so now the market is starting to price in some more interest rate raises.
Coin Flip? Opportunity Looking for RaiseMovement after consolidation
Might see a run up to mid sixties if the market doesn't rightfully collapse lol
Price prediction for SOXLbased on the VIX retreat from it's highs, and the bounce of SOXL off it's 50% fib retreat level, I predict a bounce back to 45+- in the next 2 weeks or so.
Of course watch the SPX and SOX and SMH for more relevant fib levels.
If this bounce materializes just remember it is simply a bounce in a downtrend. Sell the rips hard.
Up 25% then down again.
Short SOXL CMP $59.74Short SOXL CMP $59.74. Broke out from channel early Nov 2021. Recent price action broke price below 50 SMA with volume. Heading towards $55 area now which was recently tested. If downtrend continues then $55 may not be hold for long and will finally see $48 which happens to be 200 SMA price level as well.
SOXL at bottom of parallel channelSOXL looks ready to go back up. RSI, MACD, Squeeze all show great entry levels.
Good Luck
SOXL M-Gartley completed,. Tons of support below 49.SOXL repeated an M pattern back in Jan2021. It also return to the base of the ascending channel started in Jan 2021.
Good news is that there is a ton of support below 49 where buyers may come in.
Not trading advice
SOXL Price prediction for 1/21/22We should get a bounce at the first fib 47+-
Second fib is 38+-
A 1 percent rise in bond yields is approximately 10% drop in the SPY or NDX
If you think we'll see 4 rate hikes this year that would be 2% rise in yields, or 20% drop in SPX
SOXL price prediction for 2/1/2022We all know you cannot predict the market, but here's my opinion for this Semiconductor ETF by February 1, 2022.
I base this prediction on the continued exodus from risk assets because of the likely FOUR rate hikes this year. I see NO support levels between our current price and the prior highs of 45+- There are two trend lines that would intersect at this level by February 1. I think a trend change could occur at one of the next two Fed Reserve meetings; January 25,26 or March 15,16.
Just my opinion, but I think Semi's will continue to lead the market as a whole, so get ready to buy in hard once we get some support.
