Learn to Evaluate (SOXL) using the Charts
January 05, 2024, 19:32 pm ET, BY Jake B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SOXL
- Buy SOXL slightly over 25.33 target 30.88 stop loss @ 25.26 Details
The technical summary data tells us to buy SOXL near 25.33 with an upside target of 30.88. This data also tells us to set a stop loss @ 25.26 to protect against excessive loss in case the stock begins to move against the trade. 25.33 is the first level of support below 26.06 , and by rule, any test of support is a buy signal. In this case, support 25.33 is being tested, a buy signal would exist.
- Short SOXL slightly under 30.88, target 25.33, stop loss @ 30.97 Details
The technical summary data is suggesting a short of SOXL as it gets near 30.88 with a downside target of 25.33. We should have a stop loss in place at 30.97though. 30.88 is the first level of resistance above 26.06, and by rule, any test of resistance is a short signal. In this case, if resistance 30.88 is being tested, a short signal would exist.
Swing Trading Plans for SOXL
- Buy SOXL slightly over 26.17, target 30.28, Stop Loss @ 26.09 Details
If 26.17 begins to break higher, the technical summary data tells us to buy SOXL just slightly over 26.17, with an upside target of 30.28. The data also tells us to set a stop loss @ 26.09 in case the stock turns against the trade. 26.17 is the first level of resistance above 26.06, and by rule, any break above resistance is a buy signal. In this case, 26.17, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SOXL slightly near 26.17, target 25.33, Stop Loss @ 26.25. Details
The technical summary data is suggesting a short of SOXL if it tests 26.17 with a downside target of 25.33. We should have a stop loss in place at 26.25 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 26.17, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SOXL
- Buy SOXL slightly over 26.17, target 30.28, Stop Loss @ 26.11 Details
If 26.17 begins to break higher, the technical summary data tells us to buy SOXL just slightly over 26.17, with an upside target of 30.28. The data also tells us to set a stop loss @ 26.11 in case the stock turns against the trade. 26.17 is the first level of resistance above 26.06, and by rule, any break above resistance is a buy signal. In this case, 26.17, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SOXL slightly near 26.17, target 25.33, Stop Loss @ 26.23. Details
The technical summary data is suggesting a short of SOXL if it tests 26.17 with a downside target of 25.33. We should have a stop loss in place at 26.23 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 26.17, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Direxion Daily Semiconductor Bull 3x Shares (SOXL) available here: SOXL.
SOXL Ratings for January 05:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Strong |
Strong |
| P1 |
0 |
0 |
20.21 |
| P2 |
23.56 |
26.17 |
25.33 |
| P3 |
25.3 |
30.28 |
30.88 |
AI Generated Signals for SOXL
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Direxion Daily Semiconductor Bull 3x Shares (NASDAQ: SOXL) report below can help you understand how to do this. The trading plans for SOXL, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SOXL:
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