I'm starting to feel bullish on
$SOXL around $90 👀
SOXL has fallen from about $168 to $90, losing nearly half its value. A big drop doesn't guarantee a rally, but conditions for an oversold bounce are starting to form.
Why I'm watching:
📉 Semiconductors saw a long losing streak, with RSI reportedly near 21.5 (deep oversold).
📊 Dip-buying activity is picking up.
🤖 The AI demand story hasn't disappeared, and strong earnings could lift sentiment.
Key levels:
🟢 Support: ~$90
🎯 Rebound target: $93 – $95
🔴 Key resistance: $96 – $99
🎯 Extension: $100 – $105
I'll wait for the decline to stabilize. If SOXL holds $90 and climbs back above $95, I'll be more confident. If it breaks its previous low, I'll reassess.
SOXL is a daily 3x leveraged ETF, so volatility can hurt even if you're right on direction. Position sizing matters more than calling the bottom.
#SOXL