SOXL - Long Shares Play - Quadruple Bottom on Weekly Timeframe

9 Nis 2022

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