Semiconductors Trigger Buy Signal With Cup and Handle Breakout.

Investments

SMH-Monthly Chart

SMH-Monthly Chart

Not too long ago, we wrote about a potential cup with handle breakout for the market-leading VanEck Semiconductor ETF (NASDAQ:)

Today, we examine a “monthly” chart of $SMH to provide an update on that powerful price pattern.

As you can see, a breakout has taken flight at (1).

The breakout looks pretty bullish, after 2-years of forming the top of the cup with a handle pattern.

Note that the “handle” formed at the 361% Fibonacci extension level, highlighting the power of Fibonacci levels and the power of the pattern! Stay tuned.

Original Post

Articles You May Like

Apple Sports app announced to check scores quickly
Home Depot’s stock drops after U.S. same-store sales miss, downbeat outlook
1 Stock to Buy, 1 Stock to Sell This Week: Salesforce, Beyond Meat
Make Sure You Don’t Miss This Crypto Altcoin Project!!!
Can South Korea’s untouchable chaebols change?

Leave a Reply

Your email address will not be published. Required fields are marked *