Index Trend Analysis Report
Prepared for you on Tuesday, August 11, 2020.
Direxion Daily Semiconductor Bull 3X Shares (GIF:SOXL)
Countertrend Up (+85) - SOXL is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
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 UP since Jul 6th, 2020 at 201.813
The intermediate-term trend has been UP since Apr 14th, 2020 at 122.890
The short-term trend has been DOWN since Aug 10th, 2020 at 231.739
Smart Scan Analysis for SOXL
Based on our trend formula, SOXL is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).