The Direxion Daily Semiconductor Bull 3x ETF (SOXL) has been rated as a 'Buy Candidate' as of January 22nd, 2026, following a downgrade from 'Strong Buy'. The ETF has shown significant upward momentum, having gained 34.92% over the past 14 days, with an average daily gain of 2.49%. Technical analysis indicates the ETF has broken a robust short-term upward trend, suggesting a stronger rate of increase. A potential resistance level is identified at $84.10, according to Fan's theory. Support is expected at $61.99, and a more immediate support from accumulated volume is at $63.49. The ETF's current price is $63.74. While multiple short-term and long-term moving averages issue buy signals, the short-term moving average gave a sell signal 16 days prior. The 3-month Moving Average Convergence Divergence (MACD) also shows a buy signal. However, declining volume amidst rising prices indicates a potential divergence, which serves as an early warning. The ETF exhibits high weekly volatility at 6.63% and is classified as 'Very High Risk.' The 14-day Relative Strength Index (RSI14) is at 79, suggesting overbought conditions, which significantly increases the risk. A suggested stop-loss for SOXL is set at $61.87 (-2.92%). The forecasted open price for January 23rd, 2026, is $64.58. The long-term forecast suggests a price range between $68.00 and $133.83 over 12 months.