Upward trending channel - ASX:SEMI (Long)SEMI currently sitting on upward trend line within established bullish channel.
Previous support line at $16.30 where demand triggered another uptrend to above $17.00.
RSI currently within average buying levels around ~56-60% showing higher highs, indicating another potential run back towards previous ATH SP level of $17.54.
Aiming to take a long position between $17.00 - $17.10 if buying pressure increases in the coming days.
Disclaimer: NOT financial advice, I am not a qualified finance profession. These ideas are my own based on my research. Please consult a licensed financial advisor before making any investment decisions.
SEMI trade ideas
SEMI ETF AX @ CRISPY POTATOGday peeps. For April the probability is: Bear
So last month in March, we got ourselves a flipping hammer as the ETF is heading south. The volume was sitting pretty normal and in that average zone. But the body of the hammer didn't punch or break anything, just the tail did. So what does this all mean? Well, I'd say it is stuck in a range, and I would have forecast it to bounce up. I would have been completely wrong. Check out April it is all body and heading south! However, we may get another pin-bar/hammer.
Let's jump into the week view.
Really my assessment of the month would have been initially correct, it is only this week #2 of April that has bombed lower. The volume is increasing as well so I'd say there is a good probability of lower prices if that volume continues to support more sellers jumping onboard.