SOXL Stock Summary and Trading Ideas (Direxion Daily Semiconductors Bull 3X | ARCA:SOXL)

The Direxion Daily Semiconductor Bull 3x ETF seeks daily investment results before fees and expenses of 300% of the price performance of the ICE Semiconductor Index. There is no guarantee the fund will meet its stated investment objective.

Direxion Daily Semiconductors Bull 3X trades on the ARCA stock market under the symbol SOXL.

As of September 27, 2024, SOXL stock price declined to $39.37 with 10,643,060 million shares trading.

SOXL has a beta of 6.71, meaning it tends to be more sensitive to market movements. SOXL has a correlation of 0.71 to the broad based SPY ETF.

SOXL has a market cap of $12.74 billion. This is considered a Large Cap stock.

In the last 3 years, SOXL traded as high as $74.21 and as low as $6.21.

SOXL has outperformed the market in the last year with a price return of +130.1% while the SPY ETF gained +36.2%. However, in the short term, SOXL had mixed performance relative to the market. It has underperformed in the last 3 months, returning -28.0% vs +5.4% return in SPY. But in the last 2 weeks, SOXL shares have fared better than the market returning +24.0% compared to SPY +2.8%.

SOXL support price is $36.73 and resistance is $42.57 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SOXL shares will trade within this expected range on the day.