Bullish On NVDA, AMD? This 3x Leveraged Fund Offers Exposure And Is Setting Up A Bull Flag Pattern
Portfolio Pulse from Melanie Schaffer
The Direxion Daily Semiconductor Bull 3X Shares (SOXL) ETF, which includes stocks such as NVIDIA Corporation (NVDA) and Advanced Micro Devices, Inc (AMD), is showing a possible bull flag pattern, suggesting a potential rise. The ETF retraced almost 4% on lower-than-average volume, which may confirm the pattern. However, Direxion’s leveraged funds are designed for short-term traders and shouldn’t be held for a long period of time.
September 06, 2023 | 5:05 pm
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Advanced Micro Devices, Inc (AMD) is included in the SOXL ETF, which is showing a possible bull flag pattern.
AMD is included in the SOXL ETF, which is showing a possible bull flag pattern. This could lead to a rise in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
NVIDIA, which is included in the SOXL ETF, has been making a series of new all-time highs amid increased interest in the company’s grasp on artificial intelligence.
NVIDIA is included in the SOXL ETF, which is showing a possible bull flag pattern. This, combined with NVIDIA's recent all-time highs, could lead to a rise in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SOXL ETF, which includes stocks such as NVIDIA and AMD, is showing a possible bull flag pattern, suggesting a potential rise.
The article suggests that the SOXL ETF is showing a possible bull flag pattern, which is a bullish indicator. This could lead to a rise in the ETF's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100