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SMH trade ideas

$SMH - Can 200DMA save it?NASDAQ:SMH On August 12, I posted that SMH could be forming a head and shoulders pattern. Fast forward to today, it is close to forming the right shoulder. However, can the 200DMA, which has previously provided support, save it from breaking down? It remains to be seen. Like any pattern, a Head and Shoulders can be invalidated if it fails to break down below the neckline. As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.
NASDAQ:SMH
by PaperBozz
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 | SHORTNASDAQ:SMH VanEck Semiconductor ETF (SMH) Weekly Analysis: Current Price Action: SMH is trading at $218.43, down 9.10% for the week. Price has breached the upward trendline support, indicating potential further downside. Key Levels: Bearish Line: $214.18 Target Price 1: $199.15 Target Price 2: $172.35 Target Price 3: $155.65 Target Price 4: $136.10 Support Zones: Immediate support is expected around $199.15. Further support levels are $172.35, $155.65, and $136.10. Resistance Levels: Resistance is at the broken trendline near $240, followed by the recent high around $300. Relative Strength Index (RSI): RSI is at 53.98, trending downwards, suggesting weakening momentum. Volume: Volume is significant at 75.462M, indicating strong selling pressure. Conclusion: SMH's breakdown below key support levels and significant bearish momentum suggest further downside potential. Watch for reactions around $199.15 and $172.35 for potential entry points or further declines.
NASDAQ:SMHShort
by shkspr
$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