Index Trend Analysis Report
Prepared for you on Tuesday, June 2, 2020.
Direxion Daily Semiconductor Bull 3X Shares (GIF:SOXL)
Bull Market Weakness (+75) - SOXL is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on SOXL as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid SOXL?
MarketClub looks at technical strength and momentum to determine if the timing is right for SOXL.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for SOXL
The long-term trend has been DOWN since Feb 27th, 2020 at 194.930
The intermediate-term trend has been UP since Apr 14th, 2020 at 122.890
The short-term trend has been UP since May 18th, 2020 at 138.746
Smart Scan Analysis for SOXL
Based on our trend formula, SOXL is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).