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Hi everyone, good evening. Today's recording is from 5:11 PM on January 15th. Today, we'll be discussing SXL, which we received a request for. It's currently on the rise, so I've made a prediction about its upper limit based on my own reasoning, and I'll put it into this video. I believe SXL will reach $2 this year, and I'll touch on that a bit later, but first, let's look at the immediate future.
It's currently rising, and I predict that SXL's upper limit will rise to $14.23, and then break through this blue neckline at the second half of the month, accelerating the decline. The first reason for this is the weekly chart. On this weekly chart, the base line of the Ichimoku Kinko Hyo is around $14.23, which is approximately 9.93% from the current price.
This base line is one of the reasons. Next, let's look at the daily chart. On the daily chart, I'm currently displaying the Nishikuma 3 sigma of the Bollinger Bands. Just like during the last rally, it broke into the 3 sigma and then fell, and now it's rising from the negative sigma, and is currently touching the 2 sigma.
After this, the Nasdaq will rise to around 1900 points, sorry, 11900 points, and in the process, SOXL will also be rising little by little, but when the Nasdaq finally reaches a little over 11900 points, SOXL will be at 14.23 as I mentioned earlier, and after touching the 3 sigma of the Bollinger Bands with a wick and then falling, this will be my second reason.
And for the third reason, now I've switched to a line chart and am displaying the 4-hour timeframe, and as you can see, an inverse head and shoulders pattern is emerging. This is the same as what has been happening with the Nasdaq recently, and when the inverse head and shoulders pattern is broken upwards, it becomes a support/resistance flip and will rise from here, so where will this upside go?
If we calculate how far it will go, it comes out to $14.35, which is very close to the $14.23 we're seeing this time. This is my third reasoning. Next, this is just my opinion, but even if SxL rises after this, I don't think it will break above the high of $14.91 reached on December 13th. The reason is that this is the monthly chart, and if it breaks above that, if it breaks above this, it will continue to rise, aiming for the high of $22 on August 1st, and I don't predict that.
I'm predicting a big decline in the first half of this year, so I don't predict it will break above the previous month's high. And this is the long-term weekly chart, and it would be bad if it broke below this line, so it was on the verge of disaster, but because it rose like this at the beginning of the year, I've shifted the timing of this year's decline by about two months.
In any case, I thought it would reach $2 this year, and I had been saying until recently that the timing would be May 2023, but I've delayed it by two months in terms of annual sales, and as it's been rising like this, I'd like to make it $2 in July. As for what happens after that, well it's vague, but I'll explain that in a video about long-term forecasts.
When making long-term forecasts, what I focus on is this thin blue line on the diagonal base. When SXL goes up in an uptrend, it rejects the head and shoulders pattern and rises like this. Doesn't this look familiar? That's right, the USD/JPY. Let's take a look at the USD/JPY chart. Here is the daily chart for USD/JPY.
Here too, it rejects the head and shoulders pattern and rises. Rejecting the head and shoulders pattern means that it will fall from here, so it looks like it's going to fall, but in reality it's rising, going up. It has been rising in that way repeatedly. And here too, just like with SXL, I have been keeping an eye on this diagonal downward-sloping line connecting the tips of the wicks.
I thought it would fall here someday. In the case of SXL, it is this diagonal downward-sloping line. There's a point where we've connected the dots, which is $2. I've been waiting for the dollar-yen to eventually fall to that point, and here it is, right here, it's about to land there. I uploaded a video the other day about that point, which is around 126 yen.
In SXL terms, that's exactly $2. Let's go back to the SXL chart. Yes, this is the weekly chart for SXL. Here too, it's negating the head and shoulders pattern and rising. And this is the key point, the downward-sloping neckline where we've connected the wicks. I'm keeping this in mind, and I think that around July of this year, if it falls to this point, the price will be $2.
If there is a second bottom, then I predict it will fall to $1.50 after that. But first, I'm targeting $2 this year and predicting that it will close that point. The timing and timing will probably change depending on the progress of the stock price, but for now, my prediction that it will fall to $2 this year hasn't changed.
Yes, we're back to the daily chart. So, this is just my prediction. So, SOXL is currently rising, but even if it continues to rise, it wo n't break above last month's high of $14.91. The Ichimoku Kinko Hyo weekly baseline is $14.23, which will be the upper limit, and then it will fall. When you look at this chart pattern in hindsight, you can see an inverse head and shoulders pattern, right?
The right shoulder is the valley in the middle, and it will fall just as it's about to break above the edge of the inverse head and shoulders pattern. Yes, that's my prediction. As for my prediction for the end of this month, I think that around February 2nd, Google, Amazon, Apple, and others will announce their earnings.
So, how far will it fall around the beginning of February? From here, it will fall to around $8.14, that is, this thick blue line that I've been saying you shouldn't break. Yes, I predict that it will break below this level around the beginning of February. If we make this prediction, then the Nasdaq and S&P 500 will be in line.
I think it's a very cohesive strategy for me. So, for those of you who want to take profits on SXL, I would buy around $14, just above $14, and take profits around $14. I'm not just telling you to take profits, but if I did have SXL (I do n't currently own any), I think taking profits around $14 would be reasonable based on my current analysis.
I would like to continue trading SXL in the future, so if you like, please subscribe to the channel, leave a comment, and hit the like button. Thank you very much.
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