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Hello, I will now proceed with the analysis of the SXL stock price. I would be very grateful if you could press the "Like" button before watching the video. It is because of your likes that subtitles can be added to the video and uploaded. Now, looking at the current SXL trend, the first rally occurred on October 30th, followed by a brief correction in between.
Starting from December 7th, it is set to renew a strong high again. I mentioned that there would be a correction in the middle, but I also stated that this was a point where an immediate rise would follow. Currently, SXL is in a zone where it has risen to $32.4. If you look at the specific upward phases and percentages, the current price of $14 represents a 127% wave.
The upward movement relative to the low and purchase price is 51%. Even if you had missed that point and bought around December 21st, you could still see a 16% rise in the current zone. The SXL stock price is still following the counting method I mentioned. We are still forecasting a new high; in this zone, you must understand the past phases to view the future direction with confidence.
In the last video, I discussed the completion of the correction at $2.1 and predicted a rebound to $28.1, covering the correction at $31.5. I stated that the price would fall to $ 28 and then rise again. The upward trend has continued from December 21st to the present, December 27th. If we look at the details of this section again, we could see the correction ending precisely at the position on Friday, December 23rd.
I mentioned that it was a point where a third wave of upward movement would begin immediately after the correction at $29.9. Through the in-depth analysis of SXL in yesterday's membership video, I confirmed that the overall second wave retracement was complete. Based on the 29.9% level, the pattern is a first wave rise, a second wave zigzag, followed by a third wave rise, a fourth wave convergence correction, and a fifth wave impulse.
I described this as a short-term zone capable of showing a continuous upward trend, and I predicted that the SXL price would move in this manner. Currently, the price has risen to $32. This is the approximate location. Now, I would like to mention a rebound once again. Given that it has reached its current position, what will happen going forward?
It is reasonable to assume that it will continue to rise. I view this as a zone capable of showing a sustained upward rally through the end of the year and January. For those holding SOXL, it is safe to adopt a strategy of continuous holding. Then, regarding how high this stock will go in January, I previously predicted a major upturn, noting that the first wave began in late October and created a first wave.
Now, regarding the current phase, I have been explaining it as the first extended wave and the second, the fourth wave convergence correction. I will explain this anew. Previously, when assuming it would rise via 1, 2, 3, 4, and 5, the sell target price for the waves was between $36 and $ 38. However, an ABC pattern occurred in the middle.
Due to the appearance of ABC, we can narrow the counting for the latter part. In other words, regarding the first wave on December 7th at $ 21.3, $31, and $7, if the impulse is the first sub-wave of the first wave, it is the recent $28.1 If it moves to create another small wave in the form of Wave 2 and 1-2-3-4-5— that is, if this wave follows a-b-c and then 1-2-3-4-5, and the entire sequence is 1-2-3—it can create the blue 38 at $44, and after a convergence correction, rise again to reach the red 38 at $56.
Do you understand why I say that inverse ETFs should absolutely not be used? Subsequently, considering the ratios of the waves, if the ratios for Waves 3 and 4 are assigned identically following the ratios for Waves 1-2-1-2, it will raise the highs with waves once more after a convergence correction, heading toward the final $70 level.
This rise could proceed rapidly within January and February. In other words, the first half of next year is a period where the Nasdaq's rise could show its peak. Then, the entire upward wave in the red counting could proceed as a major upward cycle until next March. And here, 1 a b c 3 4 If it takes the form of a 5, the red 3 could be this spot, not this one.
Do you understand? If you don't understand the video content, you can watch the section repeatedly. So, regarding short-term trading strategy 1: looking at the one-hour chart, I mentioned the rise to 29.90 again. After I mentioned the rise to 29.90, a breakout of the high point occurred immediately.
There is a rule I mentioned: if it breaks through 315 again, it confirms $38. Now, how should you respond in this zone? It is to buy. Not buying just because it is the peak is something that people new to trading do. Beginners do that. Thinking that it will fall just because it is a point is a simplistic idea.
Thinking that it will rise because it is falling is also a simplistic idea. Now, in this zone, the pre-market level is 32.4. If it pulls back, of course, a price of around that level is possible. However, unless it breaks 29.90, you should assume an impulse wave based on 29.90. First, $35; second, $38.
A rise of $9 could occur immediately, and such a rise is expected this week. Wednesday, Thursday, and Friday are sections where next Monday and Tuesday could show a continuation of bullish candles. Sellers are looking at $40 until 29.90 is broken. If today's high is higher, a rally without resistance is possible.
In particular, a breakout above 31.5% would have already signaled to the market. I will wrap up today's video here. Thank you.
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