$SMH Triangle consolidation w pullback trigger $SMH broke out of triangle consolidation w pullback trigger zone
SMH trade ideas
$SMH Cup with HandleSemiconductor stocks as tracked by $SMH ETF seem to have put in the low of their handle in a 2 months cup and handle pattern.
SMH, short term double top?Although nothing really pans out, i suspect a potential double top for Semiconductor ETF.
While lots of GOOD news such as good economic or job data, and shortage of chips should propel SMH even higher but
as contrarian, i would take opposite opinion for next 3 months for a short hiatus for retracement
if the double top plays out
the first down side target base on % projection will be ~216.
and if this neckline breaks down,
next projection target is around 181
as to whether it can go lower to ~152 for major major support, that i am not sure
only time will tell
Please do your own D.D.
Not a suggestion to buy or sell this etf, only for research purpose
SMH Bullish Flag PatternI'm seeing a flagish pattern develop on the hourly time frame, looks like it should resolve today or tomorrow.
NASDAQ:SMH
$SMH Semiconductors Remains a Battleground
Please take not of the significance of the February candle open, today it was where the battle between Bulls and Bears was fought,
unfortunately into the close the Bears came out on top and we closed below this key level.
If NVDA AMD etc are to rally this level needs to break on heavy volume and set up a recovery for the sector next week.
As the month end approaches it becomes even more important.
Semiconductor RallySMH, the semiconductor ETF has completed a beautiful combo correction and it appears wave 1 and 2 are already in!
Trade plan
Entry- Break of first supply zone
Stop loss- Will take loss if price cannot turn supply into demand
Price target- Overall price target for Wave 3 is 260, but I will be scalping in between the overall move to 260 using the zones as price targets and stop losses
Comment with any questions regarding the chart or trade plan :)
SMH: Not Smart to Long Semiconductor Index Right NowIt is not a smart decision to open long positions in the semiconductor sector right now (TSM, NVDA, ASML, INTC, AAMT, AMD... etc).
As the chart show, the overall performance on SMH is still on the downside trend, blocked by the resistance line on the necklace of the head-shoulder pattern.
But it doesn't mean that it is time to short the semiconductor sector, it is better to stay neutral and see if we have the chance to buy the cheap chip in around 200 USD.
If the market wouldn't give us the chance to buy in deep, then we can try to create the new positions again when SMH breaks through the resistance and goes with a new uptrend.
$SMH Semiconductor ETF Holds Trendline
Lots of pain among the tech bulls in recent weeks and the SMH has been the cause of much of that pain.
Despite a unprecedented demand and pricing power the sector is unable to meet demands as deep rooted politics has caused supply chain issues.
Earning beats have been ignored as guidance has failed to overwhelm analysts and investors.
This week we must look for strength in AMD and NVDA in particular, both companies have seen considerable outflows and attempted rallies have been rejected fast.
On a positive note the SMH has maintained its March 2020 uptrend, it retraced and held the 0.236 Fibonacci level and also held the 100ma (ema) .
All 2 of these supports is now the line in the sand for us, below these supports trouble is ahead.
Semis to the moonLONG NVDA LONG TSM LONG KLAC LONG SEMIS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
But seriously, semis have broken out. I expect a test, but clearly semis have both cyclical and secular tailwinds. It is a no brainer to go long in a "bet the farm" type bet.
Semiconductors ~ ascending triangle Technical Analysis
We have formed an ascending triangle (purple lines). If we make a measured move from the breakout, it takes us up to $275 target approximately.
21ema has been working very well as a trend following system.
OBV has been supportive of the trend.
Fundamental Analysis / News
1. Ongoing reports talking about demand for semiconductors outpacing supply, particularly from the auto makers.
2. A Reuters report that indicates CEOs of leading U.S. companies are urging the Biden administration to provide incentives to build more factories in the U.S. in order to win back market share and help mitigate risks to national security.
How I use daily weekly stoch Part 2 Swing tradingSPY 385 the 360 then boom new highs or we boom from here
all up to banks earnings.
So far small short until confirmedDescending triangle to push it down
Need to see a trend line break in order to go long term though
SMH Breakout Pattern, Trade UpdateSMH Breakout is on-going as we are holding our long positions into 2021. The motive impulse is still in progress, look to stretch profits into wave (3) upside target 236 and then 265.
SMH - Neutral but Slightly Bearish Nearterm
Not trading advice. Just journaling my chart entry here.
SMH Existing Long Position (Wave 5 Bullish)Notice Semiconductors is leading the charge with the S&P which is positively correlated. Updates on existing longs on SMH that is likely to extend this terminal rally into 220-230 until there is irrefutable evidence to consider the top is in.
