SMH maybe forming an island gap reversal
SMH lately broke above its downward trend that looked promising as a turning from this long ward slide we have been in. Selling may not be over yet
SPY is currently trading very high at the moment. As SPY contracts we should also see SMH falling as well.
- After gapping up into more bullish territory it held for a day, stock gapped back down again
- Forming an island gap
- We could see the stock come back down into its original trading territory
SPY is currently trading very high at the moment. As SPY contracts we should also see SMH falling as well.
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Related publications
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.