Market Overview

Direxion Daily Semiconductors Bull 3x Trading Higher on 1.1x Above-Average Volume (SOXL)

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(via COMTEX News Network)--

Shares of Direxion Daily Semiconductors Bull 3x (NYSE: SOXL) are trading up 2.5% to $59.29 today on above average volume. Approximately 491,000 shares have traded hands today vs. average 30-day volume of 441,000 shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of SOXL to see if this bullish momentum will continue.

SmarTrend currently has shares of Direxion Daily Semiconductors Bull 3x in an Uptrend and issued the Uptrend alert on March 25, 2011 at $57.81. The stock has risen 0% since the Uptrend alert was issued.

In the last five trading sessions, the 50-day MA has fallen 1.78% while the 200-day MA has risen 1.03%.

In the past 52 weeks, shares of Direxion Daily Semiconductors Bull 3x have traded between a low of $21.28 and a high of $75.36 and are now at $60.14, which is 183% above that low price.

Write to Chip Brian at cbrian@mysmartrend.com

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