As of May 22, 2026, SOXL (Direxion Daily Semiconductor Bull 3X Shares) is in a parabolic state on the weekly chart, with a confidence level of 74%. Key support is at $150 and key resistance at $195. Weekly vertical breakout to new swing highs; price extremely stretched above all key MAs with RSI-14 ~$83.8 (overbought) after a strong impulse leg.
Mean-reversion pullback/consolidation (wave 4-style) above prior breakout area, then attempt to push to marginal new highs (final wave 5 extension). Rough probability ~60%.
Parabolic failure: sharp retracement toward the first major confluence (prior weekly base + fast MA catch-up), potentially forming a deeper A-B-C correction before stabilizing. Rough probability ~40%.
2 consecutive weekly closes above $180
Weekly close below $150 (loss of parabolic structure and likely deeper mean-reversion)
Buy zones mapped to likely Fibonacci retrace of the latest impulse and key structure: ~$150 prior breakout/round-number, then deeper mean-reversion levels toward psychological $100 and the rising EMA20/EMA50 catch-up area.
In parabolic regimes, trims are favored into new highs/extensions (probable wave-5 blowoff) where upside becomes convex but drawdown risk spikes; scale out more aggressively on vertical continuation.
As of May 22, 2026, SOXL (Direxion Daily Semiconductor Bull 3X Shares) is in a parabolic state on the weekly chart with 74% confidence. Weekly vertical breakout to new swing highs; price extremely stretched above all key MAs with RSI-14 ~$83.8 (overbought) after a strong impulse leg.
On the weekly timeframe, SOXL has key support at $150 and key resistance at $195. The most likely scenario (bullish) targets $195 and $220, with a revert level at $160.
SOXL (Direxion Daily Semiconductor Bull 3X Shares) is currently classified as parabolic on the weekly chart, with 74% confidence. Confirmation requires: 2 consecutive weekly closes above $180 This would be invalidated by: Weekly close below $150 (loss of parabolic structure and likely deeper mean-reversion)
The most likely scenario (bullish) targets $195 and $220, with a revert level at $160. The alternative scenario (bearish) targets $130 and $100.
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