🚀 SOXL is bouncing hard after a brutal selloff — could this be the start of a recovery?
$SOXL is trading around $57.35, up nearly 9% on the day. The 8H chart shows a strong rebound from the recent low near $38.81.
📊 Key levels to watch:
Immediate resistance: $57.83
Next resistance zone: $61
First support: $51
Major support: $38.81
Bullish scenario: If buyers break and hold above $57.83, the recovery could extend toward $61 and potentially higher.
Risk scenario: A rejection near resistance followed by a drop below $51 could weaken the bullish momentum.
📰 Market update: Semiconductor stocks have been rebounding after a sharp selloff. Wells Fargo also upgraded its AI-infrastructure outlook from negative to neutral, citing improved risk-reward after the decline.
⚠️ Important: SOXL is a 3x daily leveraged semiconductor ETF, so volatility and losses can be amplified. This is a short-term bullish watch, not a confirmed trend reversal.
My view: Buyers have momentum, but I want to see a confirmed breakout above $57.83 before getting too aggressive.
Are you bullish on the semiconductor recovery? 👀
#SOX L #Semiconductors #AIStocks #cryptotrading #MarketUpdate
$SOXL is trading around $57.35, up nearly 9% on the day. The 8H chart shows a strong rebound from the recent low near $38.81.
📊 Key levels to watch:
Immediate resistance: $57.83
Next resistance zone: $61
First support: $51
Major support: $38.81
Bullish scenario: If buyers break and hold above $57.83, the recovery could extend toward $61 and potentially higher.
Risk scenario: A rejection near resistance followed by a drop below $51 could weaken the bullish momentum.
📰 Market update: Semiconductor stocks have been rebounding after a sharp selloff. Wells Fargo also upgraded its AI-infrastructure outlook from negative to neutral, citing improved risk-reward after the decline.
⚠️ Important: SOXL is a 3x daily leveraged semiconductor ETF, so volatility and losses can be amplified. This is a short-term bullish watch, not a confirmed trend reversal.
My view: Buyers have momentum, but I want to see a confirmed breakout above $57.83 before getting too aggressive.
Are you bullish on the semiconductor recovery? 👀
#SOX L #Semiconductors #AIStocks #cryptotrading #MarketUpdate
