$SMH - Price bounced from the highlighted demand zone

SmartReversals
01-19

$VanEck Semiconductor ETF(SMH)$ - Price bounced from the highlighted demand zone, coinciding with the lower edge of the volume shelf.

However, the latest candle's shape suggests a potential top at the upper edge of the same volume shelf, aligning with a supply zone. Despite this, the stochastic oscillator suggests the bullish move may not be over.

$NASDAQ 100(NDX)$ $NVIDIA(NVDA)$ $Advanced Micro Devices(AMD)$ $SPDR S&P 500 ETF Trust(SPY)$

This chart was part of the fundamental edition of the week (Semiconductors), $Micron Technology(MU)$ roared 3% after the publication was posted mentioning the bullish setup. Check its fundamentals anyway, also with $Texas Instruments(TXN)$ and $Intel(INTC)$ .

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment
14