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$SOXL plummeted 18.45% in a single day, with a trading volume of 1746 hundred million M. Who is fleeing? I have an unrealized loss of 7.2 ten thousand dollars, but I didn't cut losses, betting on a reversal.
Plan: Enter at the current price of 210.21 to add to the position, with a position size of 5%. Set the stop loss at the round number 200 (key support at the previous low). Take profit first target at 225 (intraday rebound resistance), second target at 242 (half of the pullback from the 24h high). If it breaks below 200, then close all positions to stop loss and withdraw principal; if it holds above 213, add 3% to the position, aiming for an oversold rebound to around 240.
Two scenarios are anticipated: 1. Tonight when the US stock market opens, the tech sector will recover, SOXL will follow the rally and bounce back to 220+, I will take partial profit and keep a base position. 2. Panic continues, the 200 level breaks, then control losses, do not hold the position.
This stock has huge volatility. If it goes beyond my understanding, I will admit my mistake. I will update the results in the comment section.