DIREXION DAILY SEMI BULL 3X (SOXL) Stock Technical Analysis
USA - NYSEARCA:SOXL - US25459W4583 - ETF
34.02 USD
0 (0%)
33.92 USD
-0.1 (-0.29%)
We assign a technical rating of 8 out of 10 to SOXL. Although SOXL is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The long and short term trends are both positive. This is looking good!
SOXL is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SOXL is lagging the market slightly.
SOXL is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
SOXL has an average volume of 83400400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, SOXL did better than 70% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
SOXL has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
25.52
35.50
3 important support areas can be observed.
- A support zone ranging from 33.84 to 34.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 28.03 to 28.05. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @25.78 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 34.03 to 34.44. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @35.15 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SOXL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SOXL is up. |
| ChartMill Relative Strength | 70.79 | POSITIVE | SOXL has a high relative strength, it outperformed 70.79% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SOXL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SOXL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SOXL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.05 | OVERBOUGHT | The high RSI value suggests SOXL may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.32 | POSITIVE | The MACD value suggests SOXL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 82.98 | OVERBOUGHT | The high Stochastics value suggests SOXL may be overbought. |
| Average True Range in percent/ATR (20) | 4.67 | MEDIUM VOLATILITY | The ATR as a percentage value for SOXL suggests some volalility. |
| Average Directional Index/ADX (14) | 18.83 | NEGATIVE | The low ADX value for SOXL suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
34.02
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0%
1 Week-1.19%
2 Weeks13.4%
1 Month30.65%
3 Month28.72%
6 Month289.69%
12 Month-7.25%
2 Year80.29%
3 Year283.97%
5 Year101.55%
10 Year2377.18%
15 Year6448.6%
Volatility
ATR(14)1.67
ATR(20)%4.67%
ATR Inc-8.7%
Range Today1.5
ADR(20)1.36
ADR(20)%3.99%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS70.79
Mansfield2.32
10 Day High35.49
10 Day Low29.16
20 Day High35.49
20 Day Low23.8
52 Week High41.19
52 Week Low7.23
CS1 End34.01
CR1 Start34.03
Volume & EV
DER(3)0.26%
DER(5)1.17%
Volume56.42M
Volume Incr-13.41%
Vol(5)63.77M
Vol(50)83.40M