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
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
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.