Here's a look at the technical

Here's a look at the technicals for the 3x Leveraged Semiconductor ETF ($Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ ). It's currently testing a key support zone between $171 and $151, with major resistance up in the $214-$233 range.

The liquidity sweep during the recent selloff seems to have drawn in buyers, which points more towards accumulation than distribution.

While the Money Flow Index (MFI) has turned negative and volume has eased off a bit, the overall technical structure still looks constructive as long as that support holds.

From my perspective, this pullback could present a potential buying opportunity. For existing positions, holding looks reasonable, and for new ones, a swing trade targeting that $214-$233 resistance zone is something to consider.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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