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Smhlong

LSE:SMH (VANECK SEMICONDUCTOR ETF) LongAsset Class: Indices Income Type: Daily Symbol: SMH Trade Type: Long Trends: Short Term: Up Long Term: UP Set-Up Parameters: Entry: 42.330 Stop: 41.930 TP 44.320 (5:1) Trade idea: Retest of 4H demand zone formed by a drop-base-rally. TP set at the nearest SZ with a 5:1 risk-reward ratio. The RSI is oversold. !!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry. Trade management: **When price hits 1:1 or T1, consider moving stop to entry in case of pullback. **Disclaimer**: The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
LSE:SMHLong
by MESHANL
1
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
NVDA DAILY WOLFE WAVE SETUP OVER THE WEEKENDOn Sept 2, 2022, a daily wolfe wave entry was triggered. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. Since there is no apex associated with the daily wolfe wave, an alternative price objective would be required using gaps, previous support levels or time. If there was an apex formec, then the projected target is defined by identifying the apex location and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Short term target is near gap at 150 or 21 day ma which is 164. Conservative level would be 155. I hope this helps.
NASDAQ:NVDALong
by TOSOPTION
1
MU daily wolfe wave SMHThere is a daily wolfe wave setup that triggered on July 1 closing day at 53.65. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 84.69 which is expected to reach this price target before Sept 22. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Using the customizable gap finder indicator there are sets of gaps along the way toward 84.69.
NASDAQ:MULong
by TOSOPTION