SMHSMH VanEck SemiConductor ETF
CMP: $293.64
In July 2024, SMH posted a high of $281.82, followed by a consolidation phase with a bottom at $170.11.
The recent rally to $302.98 marks a strong recovery from those lows, confirming a breakout above the key resistance zone of $234–262. A retest of this breakout zone is still pending, with the weekly support cluster
$224–235 being an area of concern as gap formed on 12th May 2025.
Until a decisive move emerges, the price action may remain sideways in the weeks/months ahead.
SMHC trade ideas
SMH is at Buy levels IMOTechnical analysis shows volume bottoms where needed. Bullish
Here are some other reasons that I feel SMH can go up with NVDA:
-Chip Demand Surge: Global demand for semiconductors across AI, 5G, and automotive sectors is driving growth.
-Top Holdings Perform: Key stocks like NVDA and AMD provide solid fundamentals.
-Bounces on 50-Week MA: ETF has shown resilience with recent bounces off the 50-week moving average.
NFA
I don't have the huevos to short TSLA, I'm going long SMHYes you heard correctly. I capitalized HARD on TSLA back in 2021. Now I avoid it like the plague... but how low could it possibly go? I think shorts are exhausted and VIX going lower could be bullish for NVDA, TSLA, and others.
SMH is the Semi Conductor ETF, I'm thinking 250 on that one eventually. Would imply NVDA could make a big move. We'll have to see
Anyways, if you play calls, it's always good to have some nice expiry so you can relax
NFA - Just my thoughts
SMH , LONG Back on this horse 🏇🏼.
Wedge pop
Higher low , stage two continuation so far .
Break out above DTL .
6/10 Top weighted holdings in stage 2 uptrends .
Market View -
QQQ back to the top of its range , my account has gone from about 5% up on the year back to about break even levels . Seems like this market loves to let us get just a little ahead and then squish those profits lol . Keeping with it , if we can just get two successful impulses on with acceptable breadth it would theoretically be possible to build a profit cushion ...but it likes to give me one and then take it away and repeat , 2023 ~ 😉
Maybe tomorrow will be the day we get out of this range and to the upside per QQQ 🤞🏼.