SOXL - Failing Trend [MIDTERM]
SOXL has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. SOXL has received a positive signal from the moving average indicator, thus signaling a continued rise. The stock is approaching support at 14, which may give a positive reaction. However, a break downwards through 14 will be a negative signal. SOXL is overall assessed as technically neutral for the medium long term.
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TradingView: bit.ly/43y7zC6
Twitter: twitter.com/wavepoint99
- SOXL has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate.
- SOXL has broken up through resistance at 15.70.
- This predicts a further rise.
- The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well.
- SOXL is overall assessed as technically positive for the short term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut loss, TF: Time Frame, RST: Resistance, LT TP: Long term target price
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