SOXL ETF: Navigating Short-Term Volatility in Semiconductor Markets
SOXL: DIREXION DAILY SEMICONDUCTOR BULL 3X ETF has entered the Bullish zone three days ago, indicating an ongoing uptrend. However, it is currently entering a corrective phase marked by limited short-term gains and fluctuations. A brief correction period of approximately three days is expected. Following this, a strong upward trend is likely to resume, potentially starting either this Friday or early next week. Nevertheless, as the uptrend progresses into next week, creating new peaks, the daily price movements are anticipated to become increasingly limited and temporary. By mid-October, the daily price trend is expected to enter the Bearish zone, characterized by significant and sharp declines, as the amplitude of both upward and downward movements widens. Oct 10, 2023 ◆ Closed price 20.05 3.46% ◆ Appropriate Investment Position: Bullish-Buy [Long-term strategy] ◆ Today's stock price Buy-Sell intensity analysis The current trend appears to be 'Entering a correction trend