SOXL is showing signs of a rebound within a downtrend
$Semiconductor Bull 3X Shares(SOXL)$
The stock market is currently maintaining a bearish zone and showing signs of a rebound within a downtrend.
The situation indicates "sustained decline (watching)" coupled with "high selling pressure." Trend-wise, there might be temporary and short-lived upticks, but the likelihood of a downturn remains high.
Overall, there's strong selling sentiment, suggesting significant and sustained declines within the downtrend, while any rebounds are expected to be temporary and short-lived.
In this scenario, adopting a "sell & watch" strategy is appropriate, and even if trading, it's advisable to keep holding periods short with low expected returns. Short-term overheating analysis signals a potential for a ++ uptick, but caution is advised.
https://www.pretiming.com/2024/04/soxl-navigating-bearish-zone-strategies.html
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- Matthew Whiz Buckley·04-11👍LikeReport