New Recovery Upleg Signalled for SMH

New Recovery Upleg Signalled for SMH
By Mike Paulenoff, www.MPTrader.com

Breakout above 30.00 for the Semiconductor HLDRs (AMEX: SMH) is a very constructive sign and should signal the emergence of a new recovery upleg off of the January low at 26.54 that projects to the 31.50-32.00 target zone next. Components ADI, INTC, AMAT, NSM, among others, exhibit very positive chart patterns that should help propel the SMH higher in the days ahead.


  Matched “”
x
Try Us Free For 14 Days!
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!