$SOXL The momentum is clearly weakening; I’m bearish on this move. The shorts are taking over the market, and the price may continue sliding toward support.



In terms of trading, you can wait for a rebound before looking for a short entry. Watch the 133.94 - 135.55 range for entry. The targets are 128.64 down to 123.76. Place your defense at 139.62. You can also look for downside opportunities in $MU and $SKHYNIX in the same sector.

However, be sure to mind the risks: strong MA support is near 133.10, which may trigger a quick rebound. Never all-in; control your position size based on your own account.
SOXL-4.47%
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