How far can SOXL rebound? $99 is the dividing line, and $108 is the key!
SOXL fell all the way from around $168 to $88–90, a decline of nearly half. Although it has recently staged an oversold bounce, the 4-hour chart shows that the downtrend has not been fully reversed.
Here are a few key levels to watch:
📍 First hurdle: $102. This is key to whether the short-term rebound can continue. It needs to hold above this level to have a chance of moving higher.
📍 First target: $105–108. This is a previous resistance zone. The rebound would only truly gain strength if SOXL breaks through on strong volume and then holds on a retest.
📍 Bullish target: $110–113. SOXL needs to break above $108 first; otherwise, it’s too soon to be overly optimistic.
📍 Key support: $94–95. If this level fails to hold, watch for another drop to $90–92, or even a retest of the previous low.
My view: This looks more like a recovery after a sharp sell-off than a confirmed trend reversal. For the short term, watch $102 first, then $105–108. Whether SOXL can break above $108 will determine how much room the rebound has to run.
The semiconductor sector is oversold, but that doesn’t mean it has bottomed. SOXL is a daily 3x leveraged ETF: rebounds can be sharp, but pullbacks can be just as brutal. Don’t focus only on getting back to breakeven—manage your risk.
$SOXL #股票财报季
SOXL fell all the way from around $168 to $88–90, a decline of nearly half. Although it has recently staged an oversold bounce, the 4-hour chart shows that the downtrend has not been fully reversed.
Here are a few key levels to watch:
📍 First hurdle: $102. This is key to whether the short-term rebound can continue. It needs to hold above this level to have a chance of moving higher.
📍 First target: $105–108. This is a previous resistance zone. The rebound would only truly gain strength if SOXL breaks through on strong volume and then holds on a retest.
📍 Bullish target: $110–113. SOXL needs to break above $108 first; otherwise, it’s too soon to be overly optimistic.
📍 Key support: $94–95. If this level fails to hold, watch for another drop to $90–92, or even a retest of the previous low.
My view: This looks more like a recovery after a sharp sell-off than a confirmed trend reversal. For the short term, watch $102 first, then $105–108. Whether SOXL can break above $108 will determine how much room the rebound has to run.
The semiconductor sector is oversold, but that doesn’t mean it has bottomed. SOXL is a daily 3x leveraged ETF: rebounds can be sharp, but pullbacks can be just as brutal. Don’t focus only on getting back to breakeven—manage your risk.
$SOXL #股票财报季