SOXS Direxion Daily Semicondct Bear 3X ETF Forecast, Technical & Fundamental Analysis

SOXS's RSI Indicator recovers from overbought zone

The 10-day RSI Indicator for SOXS moved out of overbought territory on September 27, 2023. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 20 instances where the indicator moved out of the overbought zone. In of the 20 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 43 cases where SOXS's Stochastic Oscillator exited the overbought zone, the price fell further within 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 .

SOXS broke above its upper Bollinger Band on September 21, 2023. 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.

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on September 12, 2023. You may want to consider a long position or call options on SOXS as a result. In of 89 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for SOXS just turned positive on October 03, 2023. Looking at past instances where SOXS's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .

SOXS moved above its 50-day moving average on September 07, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for SOXS crossed bullishly above the 50-day moving average on September 13, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 10 past instances when the 10-day crossed above the 50-day, the stock continued to move higher 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 SOXS advanced for three days, in of 267 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 90 cases where SOXS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)