SOXL — Buying on a Strong Uptrend with 30%+ Profit Potential
Direxion Daily Semiconductor Bull 3x Shares (SOXL) continues to move in a clear uptrend after breaking long-term resistance. Price is consolidating above the breakout level, indicating sustained interest from major market participants.
Long positions remain valid.
Profit targets:
First target — 39.85
Second target — 60.42
The setup offers over 30 percent profit potential. The semiconductor sector continues to lead the broader market higher.
Focus on trading with the trend. Adding on pullbacks is reasonable with proper risk management in place.
Long positions remain valid.
Profit targets:
First target — 39.85
Second target — 60.42
The setup offers over 30 percent profit potential. The semiconductor sector continues to lead the broader market higher.
Focus on trading with the trend. Adding on pullbacks is reasonable with proper risk management in place.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.