Today's Top Gainer is $SOXSB and it surprised everyone 😳
I opened Binance today after my job hours and saw SOXSB on top with +18.90%. Price $45.11.
At first I thought it's some new crypto. But it's not.
SOXSB is actually a US stock. Full name is Direxion Semiconductor Bear 3X ETF. In simple words, when big chip companies like Nvidia and AMD go down, this one goes up. And it goes up 3 times faster.
So why did it pump today?
Because chip stocks crashed in US market today. Real SOXS stock is up +6.05% at $45.093. And because SOXB is 3X leveraged, it pumped +18.90%. From $37.61 low to $46.52 high in just 24 hours.
In last 7 days it's already up +44.83%. That's crazy.
What happens next?
On the 4H chart it went from $36.55 to $46.52 in 2 days. Now it's trading at $45.11 and already slipping below MA60. You can see on the small timeframe chart, it's making lower highs. The pump is getting tired. If this support at $43.26 breaks, it can fall back to $38.49 very quickly. This is 3X leverage, it dumps as fast as it pumps. So buying at the top is very risky.
Who can be the next top gainer?
If chip stocks keep falling, SOXSB will stay on top. But if chips bounce tomorrow, then the opposite side will pump - SOXSL, the Bull version. And for normal crypto, keep an eye on $WAL . Yesterday it did +59% when whole market was red. That kind of strength usually comes again.
Have you seen this kind of bStock pump before? I didn't expect a stock to beat all crypto coins today.
I opened Binance today after my job hours and saw SOXSB on top with +18.90%. Price $45.11.
At first I thought it's some new crypto. But it's not.
SOXSB is actually a US stock. Full name is Direxion Semiconductor Bear 3X ETF. In simple words, when big chip companies like Nvidia and AMD go down, this one goes up. And it goes up 3 times faster.
So why did it pump today?
Because chip stocks crashed in US market today. Real SOXS stock is up +6.05% at $45.093. And because SOXB is 3X leveraged, it pumped +18.90%. From $37.61 low to $46.52 high in just 24 hours.
In last 7 days it's already up +44.83%. That's crazy.
What happens next?
On the 4H chart it went from $36.55 to $46.52 in 2 days. Now it's trading at $45.11 and already slipping below MA60. You can see on the small timeframe chart, it's making lower highs. The pump is getting tired. If this support at $43.26 breaks, it can fall back to $38.49 very quickly. This is 3X leverage, it dumps as fast as it pumps. So buying at the top is very risky.
Who can be the next top gainer?
If chip stocks keep falling, SOXSB will stay on top. But if chips bounce tomorrow, then the opposite side will pump - SOXSL, the Bull version. And for normal crypto, keep an eye on $WAL . Yesterday it did +59% when whole market was red. That kind of strength usually comes again.
Have you seen this kind of bStock pump before? I didn't expect a stock to beat all crypto coins today.