$SOXL 102 Once this low point is breached, below it is the highway!
The price fell from 115 to 102.5, with virtually no meaningful rebound in between. Both the MA7 and MA25 have turned downward and are firmly pressing down. Today continues to make a new low; the increased volume on the decline indicates selling pressure is still being released. As SOXL is a 3x leveraged product, when it drops it falls harder than the underlying stock. In the short term, look for a move down toward around 98.
Entry: 105.0
Stop loss: 112.0
Take profit: 98.0
$SOXL - Short 🔻
Enter the trade from below👇
The price fell from 115 to 102.5, with virtually no meaningful rebound in between. Both the MA7 and MA25 have turned downward and are firmly pressing down. Today continues to make a new low; the increased volume on the decline indicates selling pressure is still being released. As SOXL is a 3x leveraged product, when it drops it falls harder than the underlying stock. In the short term, look for a move down toward around 98.
Entry: 105.0
Stop loss: 112.0
Take profit: 98.0
$SOXL - Short 🔻
Enter the trade from below👇
