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home / news releases / SOXL - SOXL: Mixed Risks Ahead Of Nvidia's Shareholder Event (Rating Upgrade)

SOXL - SOXL: Mixed Risks Ahead Of Nvidia's Shareholder Event (Rating Upgrade)

Direxion Daily Semiconductor Bull 3x Shares

2024-06-19 06:50:38 ET

Summary

  • I see mixed risks in the chip industry heading into the second half.
  • Bullish news hit the tape on Tuesday as Bank of America added Micron to their US 1 list, boosting semiconductor stocks like NVIDIA.
  • Semiconductor ETFs have reasonable valuations with strong EPS growth, but caution is advised due to momentum and technicals.
  • Leveraged ETFs like SOXL can suffer from negative compounding returns during sideways trading, making them risky investments.
  • I outline key price levels to watch and important corporate event risk catalysts possible in the weeks ahead.

The following article is on a 3x leveraged long ETF. Leveraged funds carry additional risks which I will outline in the article. Please take caution when trading such products. ...

For further details see:

SOXL: Mixed Risks Ahead Of Nvidia's Shareholder Event (Rating Upgrade)
Stock Information
Company Name: Direxion Daily Semiconductor Bull 3x Shares
Stock Symbol: SOXL
Market: NYSE
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