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SMH trade ideas

SMH rallies to new highs with room to goSMH rallied to new highs today and into higher trading area which originally appeared to be very overbought 1 hour interval shows both 10 and 20 RSI levels in overbought territory 2 hour interval shows 20 RSI having more room to grow. initially exited riskiest positions figuring on this new high being way outside the bounds of normal This is now looking to have some more room left in it. expect a small pullback or pullback in time over the next day or two.
NASDAQ:SMHLong
by ratchet-mint
Monthly island reversal in the making?I was looking over some monthly charts today (in candlestick format) and this one stood out to me on the monthly as a possible topping pattern...a monthly island reversal. On the 1st trading day in June 2024 SMH gapped up but then on the first trading day in August 2024 it gapped down creating a visual island reversal look. Technically speaking I think Island Reversal gaps do not clear but instead "gap and go" so I'm sure someone will correct me if this is the case but visually speaking (if and only if this is a top) one could look back and suggest this to be the case after the fact. And July 2024 created an "inside month"...another possible sign of a reversal. If the gap down is no longer present at the end of August then I will stop myself out of this trade but it's worth a small short IMO.
NASDAQ:SMHShort
by Vixtine
SMH held its ground above key support levelToday was an important day for semi conductors. In order to solidify a bullish pivot it needed to remain above a key support level. SMH held above key support lack luster moves across the market indicated indecision and caution amongst traders about the future being bullish or bearish This could mark the sign of a turn around to the upside longer term considering the recent rally and today's modest moves, this could be the distribution phase of the rally cycle which would mark a small pullback in the coming days
NASDAQ:SMH
by ratchet-mint
SMH breaks through key resistanceSMH breaks through key resistance giving a hint that downward trend could be coming to a close for the near term. RSI continues to rise during recent rally which is a bullish sign Flash crash we experienced on Fri-Mon tends to cause rallies which we have experienced thus far potential breakout we are currently seeing could just be false breakout before retreating back into downward trend. We should wait for pullback to resistance line and bounce upward to help confirm if this breakout will continue Any trades made now should be done cautiously and in small amounts, the market could go in either direction. Trades made now, should not be added onto until we have more confidence of the overall direction.
NASDAQ:SMH
by ratchet-mint
SMH tests major resistance lineSMH approaches major resistance line after flash crash a few days ago SMH rallies to major resistance line 20 RSI remains below 50 which is a bearish sign that the recent rally is running out shorter timeframes show a dramatic drop in volume during the rally which is another bearish indicator August and September are historically bad months for the stock market I am expecting SMH to test the resistance line, possibly breakthrough then pull back before continues selling. Not putting on any trades, waiting for confirmation.
NASDAQ:SMHShort
by ratchet-mint
5
$SMH EFT Looking Good For BuysThe semiconductor NASDAQ:SMH headed towards the previous bullish structure zone and is currently printing a bullish engulfing candle above the $239 price level (support level). Going to be deployment some more capital at this level, which is above 14% below it's previous high. I believe semiconductor companies are going to be a very important part for the global space moving forward. Doesn't matter if your talking about AI, Machine Learning, Crypto, Tesla, whatever. Semiconductors are going to be necessary and needed in every aspect.
NASDAQ:SMHLong
by primetimesosa
Analysis of SMH Chart (Daily Timeframe)SMH Daily Chart Analysis The VanEck Semiconductor ETF ( NASDAQ:SMH ) is showing interesting technical patterns! We're seeing the completion of Elliott Wave (3) with a potential corrective Wave (4) forming. This suggests we might see some consolidation or minor pullback before the next bullish wave. The RSI is trending in a downward channel, reflecting decreasing momentum. Currently sitting at 43.91, it indicates a neutral to slightly bearish sentiment. It's essential to watch how the RSI behaves—whether it breaks below the channel or bounces back. Support is around $240, while resistance lies near the $280 mark. Stay tuned and trade wisely! #Trading #Investing #TechnicalAnalysis #ElliottWave #RSI #SMH #Semiconductors ------------------------------------------------- Overview The chart of VanEck Semiconductor ETF (SMH) shows a clear Elliott Wave pattern, with Wave (3) nearing completion and Wave (4) beginning to form. This is confirmed by the RSI, which is exhibiting a downward channel trend, indicating weakening momentum. Key Points: Elliott Wave Analysis: Wave (3) appears to be completing its cycle, marked by a peak in price. Wave (4) is forming, typically a corrective phase that may lead to further price consolidation or a minor pullback before the next upward movement. RSI Trend: The RSI is currently in a downward channel, trending lower from overbought levels. This suggests decreasing buying momentum and potential further downside or consolidation in the near term. The RSI level is around 44.69, indicating a neutral to slightly bearish sentiment. It’s crucial to watch if it breaks below the lower channel trendline or bounces back within the channel. Support and Resistance: Immediate support is around the $240 region, coinciding with previous resistance turned support and the lower trendline of Wave (4). Resistance is near the previous high around $280, marking the peak of Wave (3).
NASDAQ:SMHLong
by aldofg
Analysis of SMH Monthly Chart (Buying 3 more @ 257.52)Decided to buy 3 more shares of SMH today, taking advantage of the 9% pullback from its previous all-time highs. Here’s why: The chart shows a well-defined Elliott Wave pattern, currently in Wave (4) with Wave (5) expected next. This suggests further gains are on the horizon. The RSI is at 76.25, approaching overbought territory but not quite there yet. Historically, SMH has sustained high RSI levels, indicating that there’s still room for growth. SMH is a long-term play. The semiconductor sector is vital for tech innovation and growth. With continuous advancements in AI, IoT, and more, this ETF is positioned to benefit significantly in the coming years. This pullback presents a great buying opportunity for long-term investors looking to capitalize on the potential growth in the semiconductor industry. ------------------------------------------------------ Analysis of SMH Monthly Chart The chart depicts the monthly performance of the VanEck Semiconductor ETF (SMH), showing some promising signs for long-term investment, especially considering the recent pullback. Elliott Wave Analysis: The chart illustrates a clear Elliott Wave pattern, with waves (1), (2), (3) already completed, and (4) in the making. The current position appears to be in Wave (4), suggesting that Wave (5) could be on the horizon, indicating potential for future upward movement. RSI (Relative Strength Index): The RSI is currently at 76.25, which indicates that SMH is approaching overbought territory. However, it's not yet at extreme levels, suggesting there is still room for upward movement before a significant correction. Historically, the RSI has shown that even when the ETF reaches higher levels, it can sustain those levels for extended periods. Recent Price Movement: SMH is currently down 9% from its previous all-time highs, making it an attractive entry point for long-term investors. This pullback provides a buying opportunity, especially given the historical performance and future potential as indicated by the Elliott Wave analysis. Long-Term Relevance: The VanEck Semiconductor ETF (SMH) is a critical investment for those looking to gain exposure to the semiconductor industry, which is foundational to technology and innovation. The semiconductor sector has shown consistent growth over the years and is expected to continue its upward trajectory, driven by advancements in AI, IoT, and other tech developments.
NASDAQ:SMHLong
by aldofg
You Must Watch Semiconductors vs. Nasdaq-100The chart below shows a simple equation: NASDAQ:SMH / NASDAQ:QQQ to gauge the relative performance of the Semiconductors (SMH) vs. the Nasdaq-100 index (QQQ). The SMH ETF includes companies like NVIDIA and other leading chip manufacturers, which are critical to powering AI advancements. On the other hand, the QQQ ETF comprises 100 major tech-related companies, including giants like Apple and Amazon, along with some semiconductor companies. Although there is some overlap between the two ETFs, this comparison serves as a general gauge of the semiconductors' performance relative to the broader tech sector represented by the Nasdaq-100. Observations on the importance of this comparison: Sector Strength Insight: By analyzing the performance of semiconductors relative to the Nasdaq-100, investors can gauge the strength and potential of the semiconductor sector within the tech industry. Investment Decisions: Understanding these dynamics can inform investment strategies, helping to identify whether to allocate more resources to semiconductor stocks or maintain a broader tech investment. Market Sentiment: The performance ratio can also reflect market sentiment towards different tech subsectors, providing insights into which areas might be overvalued or undervalued. Risk Management: Recognizing extreme levels in the performance ratio can help in risk management, indicating when semiconductor stocks might be overheating relative to the broader tech sector. By keeping an eye on this ratio, investors can better navigate the tech landscape, making more informed decisions about where to focus their investments.
NASDAQ:SMH
by scheplick