$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ A breakout feels like it could be close, or maybe something bigger is brewing. Volume has been fading all day while prices keep climbing. Just my own read, not financial advice.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Bank of America resumed coverage on SK Hynix with a Buy rating and a price target of W3,000,000 on the locally listed shares. The reasoning is that the company's dominance in high-bandwidth memory could set it up for an operating profit super-cycle, which they think Wall Street hasn't fully priced in yet.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ AI hyperscalers are pushing higher across the board. ON earnings came in better than expected, and CAPEX is now projected to go up even more. Feels like this could be heading back above 200 in August.
Chip stocks appear to be pulling in the most leveraged ETF money right now. Leveraged and inverse ETFs tied to semiconductor names now carry massive exposure. SK Hynix leads globally with roughly $5.5B in assets, followed by $Micron Technology(MU)$ at around $5.1B and $NVIDIA(NVDA)$ at about $4.8B. Even $Tesla Motors(TSLA)$ , the largest non-chip name in the group, trails with roughly $3.7B. Overall, semiconductor-related stocks now account for around $21B in leveraged ETF assets. The standout figure is $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ , the 3x semiconductor ETF, which pulled in ap