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$SOXL is preparing to “catch a pass” and go long, aiming for a quick rebound.
This RSI move is already extremely oversold, and there are signs that the bulls may be waking up. Entry can be watched around 137 to 138.6. On the upside, look at 146 and 153; place the defense around 131.5. You can also take a look at $ESPORTS and $MU.
But be sure to mind the risks: the bearish momentum is still very strong. Even if RSI is oversold, it could keep dumping lower. Don’t go all-in—control your position size according to your account.