DIREXION DAILY SEMI BULL 3X (SOXL) Stock Technical Analysis
USA - NYSEARCA:SOXL - US25459W4583 - ETF
Taking everything into account, SOXL scores 8 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Besides having an excellent technical rating, SOXL also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 38.85, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SOXL in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
31.51
3 important support areas can be observed.
- A support zone ranging from 38.51 to 38.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @33.97 from a trend line in the daily time frame.
- Support @31.83 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 43.15 to 43.82. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The short term trend for SOXL is neutral. |
| ChartMill Relative Strength | 92.05 | POSITIVE | SOXL has a high relative strength, it outperformed 92.05% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SOXL is below a declining 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) | 45.23 | NEUTRAL | The RSI value for SOXL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.13 | NEGATIVE | The MACD value suggests SOXL has a negative trend. |
| Stochastics (14,3) | 29.42 | NEUTRAL | The Stochastics value for SOXL is a neutral value. |
| Average True Range in percent/ATR (20) | 10.08 | HIGH VOLATILITY | The high ATR as a percentage value for SOXL suggests high volalility. |
| Average Directional Index/ADX (14) | 16.11 | NEGATIVE | The low ADX value for SOXL suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 43.83 | 38.50 | 5.33 (12.16%) | 8.22% |
| An entry @43.83. This is a Buy Stop order right above the resistance zone. | An exit @38.50. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 5.33 points, which is 12.16%. | For a 1.00% total portfolio risk, you can invest 8.22% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SOXL. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
38.86
-0.36 (-0.92%)
DIREXION DAILY SEMI BULL 3X / SOXL FAQ
Can you provide the ChartMill technical rating for DIREXION DAILY SEMI BULL 3X?
ChartMill assigns a technical rating of 8 / 10 to SOXL.
What is the current trend direction of DIREXION DAILY SEMI BULL 3X (SOXL) stock?
The current trend direction for DIREXION DAILY SEMI BULL 3X (SOXL) is Bullish.
What is the RSI signal for DIREXION DAILY SEMI BULL 3X (SOXL) stock?
DIREXION DAILY SEMI BULL 3X (SOXL) has an RSI value of 45.2308. This indicates that the stock is currently neutral.
What is the MACD signal for DIREXION DAILY SEMI BULL 3X (SOXL) stock?
The MACD indicator for DIREXION DAILY SEMI BULL 3X (SOXL) has a value of -1.12703, indicating a bearish trend.