SMH Bullish Trade Setup (Potential Breakout) We’re tracking a breakout pattern on SMH as semiconductors are setting up for another wave higher into wave (v). Look to setup Longs on SMH expiring Nov-Dec. Detailed Trade Execution on Video Update.
SMH
Breakdown of Semiconductors Simple view of this critical sector breaking through key technical trendlines.
Our first bearish sign was the break earlier in August, which held, and rallied back above the original broken trendline. That quickly stopped as momentum ran out, and it's now breaking through multiple trendlines with bulls at max long. This can potentially fall significantly given the overweight bullish positioning and the stretched overbought price.
SMH/QQQ Ratio ChartMy Favorite Ratio Chart. Semiconductors are a leading indicator of the Tech sector.
Typically has a timely divergence with few false signals.
Best,
RH
$ATOM Breaking out $ATOM forming a rounding bottom with a handle/pennant at the top as it retests 52 week highs. Very bullish this stock long term as it has speculative technology in semiconductors that could really boost top line of this small company. You can see after recent ER real volume came into the stock. I love that action and am looking for continuation. Stay long stock here, options spread is too wide for me.
STM Retest of Breakout After ER Pullback - LongSTM Retest of Breakout After ER Pullback - Long
Simple as it gets. SMH moving with QQQ, STM posted a good quarter and was faded. Long this retest of previous breakout.
LRCX - Rising channel , Long with bullish weekly options flowLRCX is currently in a rising channel, I saw bullish weekly options flow for the July 10 $340 calls. $2.3 million worth, so its quite a bit for a weekly. Rising RSI. Hope your having a great July 4th long weekend!
Short SMH - Semiconductors - Just my opinion Huge options expiration tomorrow. Trade safe.
I'm receiving a sell alert from my Ann strategy.
Not trading advice, just my opinion.
Goodluck.
SMH
SMH short opportunity coming upNot an original idea, I borrowed it from here twitter.com
But the targets setup for a short are hugely favourable right now.
I wonder how crazy it can get, I don't believe it can hit the second circle but I do believe it will hit the wedge resistance again this week.
Long Opportunity Coming in AMD?Like in gold prices, we didn't get the expected dump we use to see at the B extremity of a flat correction . A triangle is possible in AMD . Prices might be pushed by the pushed by the daily Vegas waves.
