SOXL Direxion Daily Semicondct Bull 3X ETF Forecast, Technical & Fundamental Analysis
Momentum Indicator for SOXL turns positive, indicating new upward trend
SOXL saw its Momentum Indicator move above the 0 level on December 11, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 78 similar instances where the indicator turned positive. In of the 78 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SOXL just turned positive on December 02, 2024. Looking at past instances where SOXL's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where SOXL advanced for three days, in of 317 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
SOXL moved below its 50-day moving average on December 17, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SOXL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SOXL broke above its upper Bollinger Band on December 16, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for SOXL entered a downward trend on December 09, 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.
General Information
Category Trading
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SOXL and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, SOXL has been closely correlated with USD. These tickers have moved in lockstep 91% of the time. This A.I.-generated data suggests there is a high statistical probability that if SOXL jumps, then USD could also see price increases.
| Ticker / NAME | Correlation To SOXL | 1D Price Change % | ||
|---|---|---|---|---|
| SOXL | 100% | -4.24% | ||
| USD - SOXL | 91% Closely correlated | -3.62% | ||
| TECL - SOXL | 90% Closely correlated | -1.74% | ||
| ROM - SOXL | 89% Closely correlated | -1.21% | ||
| TQQQ - SOXL | 88% Closely correlated | -1.34% | ||
| QLD - SOXL | 88% Closely correlated | -0.89% | ||
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