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cloud9futures

SOXL - Long Shares Play - Quadruple Bottom on Weekly Timeframe

Long
Direxion Daily Semiconductor Bull 3x Shares (AMEX:SOXL)  
cloud9futures  
AMEX:SOXL   Direxion Daily Semiconductor Bull 3x Shares
Supply and Demand Multiple Time Frame Analysis Double Top or Bottom quadruplebottom weeklyanalysis dailyanalysis Double Bottom Falling Wedge volumeanalysis
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supplyanddemand mtfa doubletoporbottom quadruplebottom weeklyanalysis dailyanalysis doublebottom fallingwedge volumeanalysis
SOXL has reached a major bullish level here, with great possibilities for calls/shares.

Chart Event: Quadruple Bottom on Weekly, Double Bottom on Daily

Confluence:
  • Rising volume each time price action nears this level
  • Bouncing neatly at weekly 200EMA
  • Strong weekly bullish divergence
  • Strong daily bullish divergence
  • Chip shortage continues to benefit chipmakers
  • Falling Wedge on 65m

Trade Idea: Calls/Share Swings

Price Targets:
  • PT1 - $30.50
  • PT2 - $32.00
  • PT3 - $33.00
  • PT4+ - $35.00
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