VanEck Semiconductor ETF (SMH) - 1Y Chart Analysis
THE SETUP:
After 13 months of sideways chop between $180-$240, SMH has finally broken out with real conviction. This lengthy accumulation phase built a massive foundation for what could be the next major leg higher.
KEY LEVELS:
Breakout Level: $240 (now critical support)
Current Price: $261.59 (+1.79%)
Next Target: $300 (major psychological level)
Stop Loss: Below $240 breakout
WHAT HAPPENED:
Semis have been coiling throughout 2024, basically going nowhere while digesting the previous run. The break above $240 on solid volume tells me buyers are finally stepping in with size.
MY TAKE:
This looks like the real deal. 13 months is a long time to build a base, and when these sector ETFs finally break out of extended ranges, they tend to move fast. $300 is the obvious target - round numbers always matter in this game.
TRADE SETUP:
Long SMH with targets at $280 and $300. Stop below $240. The risk/reward here looks solid for swing traders who can handle the volatility.
Anyone else playing this breakout or waiting for a pullback? The semiconductor space has been dead money for over a year, so this could be the start of something bigger.
This is not financial advice. Trade at your own risk and size accordingly.
THE SETUP:
After 13 months of sideways chop between $180-$240, SMH has finally broken out with real conviction. This lengthy accumulation phase built a massive foundation for what could be the next major leg higher.
KEY LEVELS:
Breakout Level: $240 (now critical support)
Current Price: $261.59 (+1.79%)
Next Target: $300 (major psychological level)
Stop Loss: Below $240 breakout
WHAT HAPPENED:
Semis have been coiling throughout 2024, basically going nowhere while digesting the previous run. The break above $240 on solid volume tells me buyers are finally stepping in with size.
MY TAKE:
This looks like the real deal. 13 months is a long time to build a base, and when these sector ETFs finally break out of extended ranges, they tend to move fast. $300 is the obvious target - round numbers always matter in this game.
TRADE SETUP:
Long SMH with targets at $280 and $300. Stop below $240. The risk/reward here looks solid for swing traders who can handle the volatility.
Anyone else playing this breakout or waiting for a pullback? The semiconductor space has been dead money for over a year, so this could be the start of something bigger.
This is not financial advice. Trade at your own risk and size accordingly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.