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May 04, 2023

AI Trading Robot Generated 4,65% Gain for SOXS of the last week

 AI trading robot in our robot factory, Swing Trader: ETFs for Growing Industries (TA), generated 4,65% GAIN for SOXS  of the previous week.

Last week, SOXS, the Direxion Daily Semiconductor Bear 3x Shares ETF, generated an impressive 4.65% gain. This performance can be attributed to various factors, including the recent movements of the 10-day Relative Strength Index (RSI) Indicator. In this article, we will delve into the technical aspects behind this gain and analyze the potential implications for the stock's future trajectory.

10-Day RSI Indicator Analysis: The 10-day RSI Indicator for SOXS moved out of overbought territory on April 26, 2023. This shift could indicate that the stock is transitioning from an upward trend to a downward trend. Consequently, traders might consider selling the stock or buying put options to capitalize on potential declines in the stock's value.

Historical Precedent: Tapping into Tickeron's A.I.dvisor, we analyzed 24 instances where the 10-day RSI Indicator moved out of the overbought zone. In all 24 cases, the stock's value declined in the days that followed. This historical pattern suggests a 90% likelihood of a downward movement in the stock's price.

Traders who are looking to take advantage of this trend may find it beneficial to sell the stock or purchase put options. However, it is important to keep in mind that past performance is not a guarantee of future results, and various other factors can influence the stock's movement.

In addition to the 10-day RSI Indicator, traders should also consider the overall market trends, company-specific news, and other technical indicators before making any decisions. Staying well-informed and maintaining a diversified portfolio can help mitigate potential risks.

SOXS experienced a substantial 4.65% gain last week, and a key factor contributing to this performance was the movement of the 10-day RSI Indicator out of overbought territory. Historical data from Tickeron's A.I.dvisor suggests a 90% likelihood of the stock's value declining in the days following this shift.

Related Ticker: SOXS

Momentum Indicator for SOXS turns negative, indicating new downward trend

SOXS saw its Momentum Indicator move below the 0 level on June 05, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 94 similar instances where the indicator turned negative. In of the 94 cases, the stock moved further down in the following days. The odds of a decline are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

SOXS moved below its 50-day moving average on May 14, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for SOXS crossed bearishly below the 50-day moving average on May 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 10 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SOXS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for SOXS entered a downward trend on June 17, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SOXS advanced for three days, in of 260 cases, the price rose further within the following month. The odds of a continued upward trend are .

SOXS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

Industry description

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the ICE Semiconductor Index. The fund invests at least 80% of the fund’s net assets in financial instruments, that, in combination, provide 3X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. The index is a rules-based, modified float-adjusted market capitalization-weighted index that tracks the performance of the thirty largest U.S. listed semiconductor companies. The fund is non-diversified.
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A.I.Advisor
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General Information

Category Trading

Profile
Fundamentals
Details
Category
Trading--Inverse Equity
Address
Direxion Shares ETF Trust33 Whitehall Street,10th FloorNew York
Phone
866-476-7523
Web
http://www.direxioninvestments.com/
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